Over-subscribed capital raising of A$5.6m via placement of 56,000,000 fully paid ordinary shares at $0.10 per share:
Represents a price equal to the10-Day VWAP of $0.10 as of the end of trading Friday 17 May 2024.
New Institutional & High Net Worth Investors join the registry via the placement along with strong support from existing shareholders.
Placement jointly managed by CPS Capital Group Pty Ltd (‘CPS’ and Ironside Capital Pty Ltd (Ironside) (‘Joint Lead Managers’ or ‘JLM’s’.
Majority of funds designated for the West Arunta Project to fast-track and expand systematic drill testing of high-priority Nb-REE / IOCG1 targets for at least the next 12-18 months at including:
Diamond (DD) and reverse circulation (RC) drill testing of the new Avalon2 Nb-REE / IOCG mineral target, RC drill testing of the new Sheoak, K1 and K2 gravity targets, and Expanded follow-up DD and RC drilling programs at the Pokali Prospect.
Balance of funds will go towards implementing the Laverton Project gold exploration strategy, and general working capital.
Feel sorry for the new investors and high net worth individuals who bought into the CR. 50% value has vaporised…
RCR Price at posting:
5.2¢ Sentiment: None Disclosure: Not Held
and Ironside Capital Pty Ltd (Ironside) (‘Joint Lead Managers’ or ‘JLM’s’
