Dublin-based mineral exploration company Minco Exploration has closed aggregate financing of €1.66 million to advance its Rapla Project in County Laois, the company announced.

In a report by Newsfile Corp, the financing comprises €1.375 million of new equity at €0.0868 per ordinary share, including €1.125 million from Irish Minerals Fund and €250,000 from a strategic investor. The package includes completion of €155,000 under a previously announced investment option and €130,000 in corporate working capital financing.

The Irish Minerals Fund, sponsored by Lionhead Resources, is anchored by a €30 million commitment from the Ireland Strategic Investment Fund to make minority investments in metals and mining projects across Ireland. 

The Ireland Strategic Investment Fund is the country's sovereign development fund, managed by the National Treasury Management Agency.

Irish Minerals Fund now holds approximately 10.5% of Minco following its subscription for 12,959,258 ordinary shares. The strategic investor, which subscribed for 2,880,184 ordinary shares in the new equity round and completed its final investment option tranche, now holds approximately 25.1% of the company.

The Rapla Project is located on-strike from the past-producing Galmoy and Lisheen mines. Minco reported results in December 2025 from drillhole 3312-82 showing 16.5 metres grading 10.99% zinc, 3.12% lead, 1.39% copper and 294 grammes per tonne silver from 576.5 metres depth.

John Kearney, chairman of Minco Exploration, said the completion of financing provides the capital required to advance the Rapla Project at an accelerated pace. He added that concurrent investments reflect continued confidence in the project's quality and potential.

Paul Quirk of Irish Minerals Fund said the Rapla Project aligns with the fund's strategy of supporting high-quality mineral projects in Ireland with strong technical and ESG foundations. 

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