AuKing Mining has secured binding commitments for a A$5 million placement, with strong demand from global capital and strategic investors.

Priced at a premium, not a discount. In a market where junior explorers routinely raise at double-digit discounts, AuKing’s placement was priced at $0.025 per share, a premium to VWAP, with bids substantially exceeding the amount raised.

Global money. Commitments came from family offices, global institutions and sophisticated and professional investors. Tundulu is now on the radar of international capital looking for the next carbonatite-hosted rare earths discovery, in the same southern Malawi province that produced Kangankunde.

The ground is delivering. The raise follows positive on-ground findings from initial drill sample logging, with carbonatite logged in 20 of the first 21 RC holes. And the momentum is visible in real time from site. In recent field updates, Exploration Manager Ian McBride reported from West Tundulu overlooking Nathace Hill as the rig turned on Hole 14, highlighting encouraging rock chip mineralisation, and from AuKing’s Zomba warehouse as the first batch of drill samples was unloaded and prepared for despatch.

The funds go straight into the drill bit. Proceeds will upsize the current drilling programme at Tundulu, headlined by the diamond rig due to mobilise at the end of July to test the system at depth for the first time in the modern era.

Newsflow. Ministerial export approval has been received for the first batch of 16 drillhole samples, now bound for Intertek’s Perth laboratory, with samples from the next 8 holes being processed for export. First assays are the next major catalyst, with strong newsflow expected throughout 2026.

The takeaway: a premium-priced raise, oversubscribed, from global institutions, into a drilling programme that’s hitting carbonatite in 95% of holes. Tundulu is attracting exactly the kind of attention early-stage discoveries receive.

Based on AuKing Mining’s ASX announcement of 14 July 2026. Assay results are pending; geological logging is visual and interpretive in nature.