Panmure Liberum is delighted to have acted as joint broker to Capital Ltd on its successful $40m equity fundraise

The net proceeds of the placing will provide additional balance sheet capacity to support the Group's growth strategy as it seeks to capitalise on a highly favourable demand environment and a tightening equipment market. Following a sustained period of robust commodity prices, a surge in capital markets activity within the sector and increased exploration budgets across their major customers and the sector in general, Capital anticipates increased demand for its services across its operating divisions into 2026 and beyond. Capital has a strong track record in converting capital expenditure to meaningful revenue and earnings growth and believes the proceeds from the placing will leave it well-positioned to capture value from the increased demand for its services flowing from strong indicators in the sector. The placing will be settled in two tranches. The second tranche is subject to approval from shareholders at an upcoming general meeting on 11 December. The placing was completed at a 4.9% discount. Capital provides full-service mining, drilling, maintenance and geochemical analysis solutions to customers within the minerals industry.