SVG - 20c getting hit. highlights from their 25th jan 2023...

SVG - 20c getting hit.

highlights from their 25th jan 2023 "placement and operations update" announcement (post #: 65876767):

• Shares are to be issued under the placement at $0.20, representing a 25% premium to the closing price on 24 January 2023 and an 18% premium to the 30-day volume weighted average price (VWAP).

• Proceeds of the placement will be utilised towards the final consideration payments due for the purchase of the Georgetown Project and further upgrades to the Georgetown gold processing plant to increase throughput capacity and for general working capital purposes.

• Gold production continues from the Company's Agate Creek gold mine with over 4,100 ounces produced in the December quarter and over 5,000 ounces produced to date since commencement of production in September 2022.

• Gold sales since commencement of production exceed $13 million.

• Significant heavy rainfall over the past month in North Queensland has impacted mining activities and access to the minesite but sufficient stockpiles of ore had been transported to the Georgetown processing plant prior to the wet season which has enabled processing of ore and gold production to continue.