Mount Hope Mining (ASX:MHM) has raised $1.82M in a strategic placement led by Ronin Metals, the investment vehicle of Simon Lawson and former Spartan Resources executives Craig Jones and David Coyne.
Ronin is putting in $1.03M and will emerge with an 11.9% stake in Mount Hope.
That puts some serious WA gold pedigree on the register just as Phase 3 drilling gets underway.
The Spartan connection
The Ronin team was part of the leadership behind Spartan Resources, which delivered the Never Never and Pepper discoveries at Dalgaranga before its $2.5B merger with Ramelius Resources in 2025.
Now they’re backing Mount Hope Mining and the broader exploration potential of its Cobar portfolio.
The placement was completed at $0.145 per share, a 2.8% premium to the 15-day VWAP, with no broker fees.
Managing Director Fergus Kiley said the investment strengthens the balance sheet and allows the company to attack the broader Mt Hope system more aggressively.
Figure 1: Mount Hope Project Location Map.
More money, more drilling
Phase 3 drilling is already underway at Mt Solitary, targeting extensions to known mineralisation, while the new funding gives Mount Hope Mining more flexibility to push regional exploration across the broader project.
Ronin will also have the right to nominate a director while its group maintains at least a 10% holding.
Simon Lawson summed up the strategy simply. “Drill, baby, drill.”
What’s next
Phase 3 drilling continues at Mt Solitary, with first assays expected in October.
For Mount Hope Mining, the new money is significant, but having a group of proven gold discoverers take a major stake may be the more interesting signal.
