D3 Energy Ltd (ASX:D3E, OTCQX:DNRGF) has secured firm commitments to raise $6.12 million through a placement to institutional and sophisticated investors, with the money to advance drilling, development studies and exploration across its South African and Australian assets.
The company will issue 17,000,000 new shares at $0.36 each, with the placement attracting strong support from both new and existing investors. The capital raise marks D3 Energy’s first since listing in May 2024 and provides funding certainty to progress key growth initiatives.
“This capital raising is a significant milestone for D3 Energy, being the first time we have returned to the market since listing two years ago. The ability to raise capital at a premium to our IPO price reflects the progress we have made, and the confidence investors have in our strategy and assets. We are particularly pleased with the level of support we have received from overseas investors highlighting the global appeal of our portfolio,” managing director and CEO of D3 Energy, David Casey said.
“With helium supply increasingly constrained and disruptions to supply likely to be impacted for the next three to five years in key producing regions, and demand continuing to grow, this funding allows us to materially accelerate exploration activities across our portfolio and advance our projects during what is a unique and highly attractive point in the helium market cycle.”
Accelerating activities
Funds will be directed primarily toward execution of a drilling program at the company’s flagship asset in South Africa, alongside continued work on a front-end engineering and design (FEED) study for a proposed helium and natural gas processing facility. This study is a critical step toward project sanction and development.
Additional capital will support the acquisition of seismic data across D3 Energy’s permits in the Arckaringa Basin in South Australia, aimed at advancing exploration across its domestic portfolio.
The placement strengthens the company’s balance sheet and positions it to accelerate technical, exploration and appraisal activities amid increasing global focus on securing reliable helium supply. Helium is considered a strategic and constrained resource, with supply disruptions and rising demand highlighting the need for new sources.
New shares issued under the placement will rank equally with existing shares and are expected to be allotted around March 31, 2026.
Free State footprint expansion
Earlier this month, D3 Energy expanded its footprint in South Africa’s Free State after the Petroleum Agency SA (PASA) formally accepted three Exploration Right applications.
The applications — ER391, ER392 and ER393 — cover ground previously held as technical cooperation permits by D3 Energy and sit contiguous to the company’s highly prospective ER315 permit in the Free State Province.
Acceptance of the applications moves them into the next phase of the regulatory process, with environmental authorisation submissions and public consultation processes to follow.
