Adelong Gold Limited (ASX:ADG) Successfully Completes $1.173 Million Capital Raise
Capital Raise
Adelong Gold Limited has successfully raised $1.173 million through a single-tranche placement to sophisticated and professional investors. The placement was conducted at an issue price of $0.0042 per share.
Use of Funds
Funds raised will be allocated towards exploration drilling, project development, and working capital to accelerate exploration and advance the Adelong Gold Project.
Executive Comments
Managing Director Ian Holland stated, “We are pleased to have secured strong support from investors in this capital raise, reflecting confidence in Adelong’s strategy to transition the Adelong Gold Project into production. These funds will allow us to accelerate exploration drilling, advance development milestones with Great Divide Mining, and strengthen our working capital position.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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