Lodestar extends Ned’s Creek drilling after $771,000 boost Amid...

Lodestar extends Ned’s Creek drilling after $771,000 boost
Amid accepting applications for the remaining shortfall available from its June 2024 entitlement offer, Lodestar Minerals (ASX:LSR) is planning to extend its drilling program at the Ned’s Creek Project to a minimum of 1,000m.
As a result of the increase in funding from shortfall, Lodestar has decided to increase its initial two hole program at Ned’s Creek to four holes, with the potential for further expansion to six holes for 1,500m.
These holes will enable further testing of the two magnetic bullseye targets uncovered at Ned’s Creek.
A total of 771.54 million shares has been subscribed for by investors, representing a full subscription of the available shortfall. Further, 385.77 million options exercisable at $0.003 on or before 30 June 2026 will also be issued to investors.
This application for shortfall from investors amounts to $771,549, which Lodestar says it will allocate to ongoing operations.
An additional 93.45 million unlisted options exercisable at $0.002 on or before 30 June 2026 will be issued to brokers as a facilitation fee for the placement of shortfall shares.
The company notes 50 million shares and 25 million unlisted options were issued on 30 August 2024.
Lodestar Minerals is an active Western Australian base metals and gold explorer focused on its Earaheedy, Ned’s Creek, and Coolgardie West projects.

https://mining.com.au/lodestar-extends-neds-creek-drilling-after-771000-boost/