Tribeca to invest A$2.8 million in Apollo Minerals
Last updated: 18:55 04 Feb 2026 EST, First published: 17:55 04 Feb 2026 EST
Apollo Minerals Ltd (ASX:AON, FRA:4AP) will raise gross proceeds of A$2.8 million after Tribeca Investment Partners committed to subscribe for 70 million new fully paid ordinary shares at A$0.04 per share.
The placement is subject to shareholder approval. If completed, Tribeca will become a substantial shareholder with an estimated 5.6% holding.
Apollo said the investment follows its recent A$6.5 million capital raising and supports the scale potential of its Couflens high-grade tungsten-gold project in southern France, which includes the historic Salau mine. The company noted Salau was among the world’s highest-grade tungsten mines during its period of operation.
Funds from the placement will be directed to exploration and development at Couflens, as well as general working capital.
Managing director Neil Inwood said: “We are pleased to welcome Tribeca as a significant shareholder of Apollo Minerals and look forward to collaborating as the company seeks to unlock the significant opportunity and untapped exploration potential of Couflens.”
Capital raise follows Couflens permit reinstatement
The investment by Tribeca comes after Apollo raised $6.5 million to accelerate exploration and development at Couflens, after strong investor backing following the project’s reinstatement.
The funding comprises $5.75 million from a placement to institutional and sophisticated investors and a further $800,000 commitment from directors and officers, subject to shareholder approval. Apollo will issue about 242 million new shares at $0.027 each.
Read more: Apollo Minerals raises $6.5m to accelerate Couflens tungsten-gold project
Apollo recently regained its exploration permit at Couflens, providing a renewed 5-year window to advance the project after an extended regulatory process.
Couflens includes the historic Salau mine, which was among the world’s highest-grade tungsten operations during production from 1971 to 1986. The project is considered one of Europe’s most significant undeveloped tungsten assets, with the metal seen as strategically important for defence, energy and advanced manufacturing.
Apollo also points to material gold upside at Couflens, including surface rock chip results of up to 24.5 g/t gold. The company has reported gold mineralisation at depths of up to 600 metres, indicating potential beyond the historical mine footprint.
