Over $6M Raised to Accelerate Exploration at Elizabeth Hill
Summary
Raised $6.125 million through a share placement with strong demand from institutional and existing investors.
Funds allocated to further drilling, quantifying near-surface mineralisation, and regional exploration at the Elizabeth Hill Project.
Placement price set at $0.11 per share, slightly above the 15-day VWAP, with shares issued in two tranches pending shareholder approval for director participation.
Elizabeth Hill Project offers high-grade silver potential with historical production of 1.2 million ounces from 16,830 tonnes at 2,194g/t Ag and significant exploration upside.
Lead Manager CPS Capital Group to receive standard fees and options, subject to shareholder approval.