- Share purchase plan to raise up to $500,000
- Funds will principally be applied towards exploration at Ninnis gold project
- Also pursuing gold opportunities in Australia and New Zealand
- Balance of raising applied to general working capital and corporate purposes
Vita Resources (ASX: VTA) is preparing to undertake a share purchase plan (SPP) to provide eligible existing shareholders with the opportunity to participate in a capital raising of up to $500,000.
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The SPP shares will be issued at $0.021 per share. Eligible shareholders may apply for up to $30,000 worth of SPP shares.
The SPP is expected to open on Monday, 26 October 2026 and close at 5:00pm (AEDT) on Friday, 6 November 2026, unless extended or closed earlier at the discretion of the company.
The SPP also provides shareholders whose holdings are currently below a marketable parcel of shares (being a holding with a current market value of less than $500) with an opportunity to increase their shareholding to a marketable parcel.
The additional funds raised will principally be applied towards exploration at the Ninnis gold project, pursuing gold opportunities in Australia and New Zealand and the costs of the SPP offer, with the balance applied to general working capital and corporate purposes.
Ninnis is an early-stage exploration project located west of Laverton in the Northern Goldfields region of WA, a world-class gold mining jurisdiction hosting numerous multi-million-ounce gold deposits.
At the end of September Vita lodged an exploration permit application over 68 sq. km in the Bendigo area of Central Otago in New Zealand.
“Lodging this application is the next step in the New Zealand strategy we set out in August 2026 and reflects the pace we intend to advance towards commencing exploration activities in the country,” non-executive chairman, Gavin Rutherford, said.
“Central Otago is one of the most prospective, under-explored gold districts in our part of the world. Securing our own ground gives Vita a strong platform to apply modern exploration to a system with a long production history. The fact that it adjoins Santana’s Bendigo-Ophir Project and provides potential in a proven location gives cause for positive anticipation.”
Historical exploration records for the area outline earlier drilling that recorded gold through the alluvial sequence and interpreted a local gold-bearing quartz-lode source within the underlying Otago Schist.
VTA is steady at 2.2¢ with a Mkt cap of $2.141M prior to markets opening.
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