Krakatoa Secures $1.3M for Maiden Drilling at Zopkhito Antimony-Gold Project

Key Highlights:

• Krakatoa raises $1.3M via placement to fund its extensive drilling at Zopkhito Project
• Zopkhito Sb-Au drilling campaign to commence in July
• Foreign estimate includes 815,119 oz Au and 26,000 t Sb
• Chairman hails strong support, targets JORC-compliant resource
• KTA trades at $0.012 with market cap of $7.44M (June 18)
   

Krakatoa Resources Ignites Georgian Gold-Antimony Ambitions with $1.3M Raise

Krakatoa Resources Ltd (ASX: KTA) has taken a critical step toward unlocking the high-grade antimony and gold potential at its Zopkhito Project in Georgia, announcing a $1.3 million capital raise to fund an extensive maiden drilling campaign set to begin in July.

The company announced that it has received firm commitments for a placement of 124 million shares at $0.0105, with attaching unquoted options offered on a 1-for-2 basis, exercisable at $0.02 until September 2026. The raise was well received, underpinned by strong support from both existing and new investors.

Proceeds from the placement will be directed towards a 7,000–10,000m diamond drilling program at Zopkhito, in-adit drilling to intersect high-grade antimony veins and gold halos, and geophysical surveys to define extensions to the existing foreign resource. The current foreign estimate stands at 26,000 tonnes of antimony (225Kt @ 11.6% Sb) and 815,119 ounces of gold (7.1Mt @ 3.7 g/t Au), derived under the Soviet GKZ system.

The company’s Executive Chairman, Colin Locke, expressed confidence in the project’s growing potential:

“We’re very pleased with the strong support received for this placement, which reflects growing recognition of the significant potential of the Zopkhito Antimony-Gold Project. We thank our existing shareholders for their ongoing support and welcome new shareholders to the register. It is an exciting time for the Company, with site access works nearing completion, the funds raised will be used for the extensive maiden drilling campaign. This marks a key step forward for our aim of converting the current foreign antimony and gold resource into a JORC-compliant resource. We look forward to keeping shareholders updated with our progress.”

The Board also signaled confidence in the program, with directors set to participate in the placement for 3 million shares and 1.5 million attaching options, subject to shareholder approval in July.

Strategic Project Location with Global Reach

Zopkhito is located in northern Georgia’s Racha region, covering ~1,779 hectares. With proximity to rail-connected Kutaisi and Black Sea ports, the project is strategically positioned for future development and export.

Georgia’s strong GDP growth (+7.5% in 2023), streamlined regulations (#2 globally for ease of starting a business), and sweeping free trade access to 2.8 billion people—including the EU, China, and Turkey—further amplify the investment appeal.

The Bigger Picture: Antimony in Global Focus

Antimony is a designated critical mineral due to its strategic use in energy storage, semiconductors, flame retardants, military applications, and solar panels. Amid global efforts to reduce dependency on Chinese supply chains, high-grade antimony resources like Zopkhito are attracting increasing investor attention amid intense supply pressure. 

While the foreign estimate remains non-JORC-compliant, this maiden drilling campaign could be pivotal in converting the asset to a JORC-standard resource, thereby unlocking new valuation potential for the small-cap explorer.

At the time of writing this article, Krakatoa Resources (ASX: KTA) shared were trading at A $0.012

This is a sponsored article, presented by Skrill Network. Krakatoa Resources (ASX:KTA) is a client. Information sourced from KTA ASX announcements and Skrill Network’s in-depth market research.

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