Newly US-backed Northern Minerals hits up investors for $60 million for WA rare earths projectSean SmithThe West AustralianThu, 23 October 2025 1:22PMEmail Sean Smith
Rare earths hopeful Northern Minerals isn’t passing up an opportunity to raise cash from its rising share price, hitting up institutional investors for $60 million to advance its US-backed Browns Range project.
Two days after an offer of $US230m in debt funding from the Trump administration, Northern Minerals went into a share-trading halt while its brokers offered new shares at 5.1¢ apiece, a 19 per cent discount to Wednesday’s close.
The proceeds will fund front-end engineering work at Browns Creek, in the East Kimberley, and repay a convertible note.
Northern Minerals shares are up 70 per cent over the past month, including a strong two past days after Tuesday’s announcement of the critical minerals pact between Australia and the US.
More to come.
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