Peregrine Gold Limited (ASX:PGD) Announces Quarterly Activities and Asset Sale
Exploration Activities
Peregrine Gold Limited commenced an extensive soil sampling programme and geophysical surveys at Tin Can and Tin Can West prospects. Independent experts were engaged to enhance drill target generation and regional strategy. Heritage surveys were expanded to prepare for future drilling and exploration. Results from the soil sampling and geophysical surveys are expected this quarter.
Corporate Actions
The Company announced a 1-for-4 non-renounceable entitlement issue to raise up to A$2.5 million, strongly supported by Directors and Yandal Investments Pty Ltd. Following the quarter end, Peregrine received a revised commitment from Yandal Investments to take up to A$1,000,000 of the Offer, alongside commitments from Directors George Merhi and Anees Sabet for A$300,000. The Closing Date has passed with final results expected in early February 2025.
Asset Sale
Peregrine executed an agreement to sell the Deadman Flat and Perry Creek Project to Capricorn Metals Ltd for up to A$3.75 million plus NSR Royalty, pending a 14-day due diligence period. The transaction includes A$1.5 million upfront share consideration with additional contingent payments.
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