Azzuro Resources PLC (ASX:AZ9) has successfully secured a strategic investment of A$3.06 million from Kerry Resources Logistics (Hong Kong) Limited, a member of the Kerry Mining group. This significant placement aims to bolster Azzuro’s funding position as the company continues its exploration and evaluation efforts across its tenements in Mongolia, particularly focusing on the Red Hill copper-gold VMS system and the Oval copper-nickel-PGE discovery.
The investment involves the strategic placement of 203,875,000 CHIs at A$0.015 each, representing a 7% premium to the last traded price and a 10% premium to the 15-day volume-weighted average price (VWAP) as of 13 October 2026. Upon completion of the placement, Kerry Resources Logistics will hold approximately 19.9% of Azzuro, thus becoming a substantial shareholder in the company.
Managing Director Gan-Ochir Zunduisuren expressed optimism regarding this investment, describing it as a transformational step for Azzuro. He noted that the backing from Kerry Mining Group not only provides essential funding but also brings technical expertise necessary to unlock the full potential of their high-grade assets in one of the world’s most prospective and underexplored mining regions.
The completion of the placement is anticipated on 19 October 2026, with subscription CHIs expected to be issued and quoted following this date. The funds raised will be directed towards resource definition, metallurgical testwork, and initial commercial study activities at both the Red Hill and Oval projects, in addition to supporting broader exploration and evaluation work across Mongolia.
This strategic investment not only enhances Azzuro’s financial capabilities but also introduces a substantial shareholder with extensive regional resources experience, further supporting the company’s ambitions in the critical and base metals sector in Mongolia.
