Aguia Resources Limited (ASX:AGR) Completes $1.5M Share Placement
Share Placement Details
Aguia Resources Limited (ASX:AGR) has raised $1.520 million through the placement of 40 million new fully paid ordinary shares at $0.038 per share, managed by Far East Capital Limited. The placement includes 1 million shares subscribed by Directors and represents a 5% discount to the closing price on 4 March 2025.
Use of Funds
The funds will be allocated to expanding the Santa Barbara gold processing plant, commencing drilling at Santa Barbara to develop JORC resources, and covering general administration and working capital.
Executive Comments
Executive Chairman Warwick Grigor stated, “The Santa Barbara processing facility is continuing to ramp up towards the 50 tpd rate at a satisfactory pace but the real speculative appeal lies with the potential to prove a series of sizeable, high-grade gold orebodies. In the first instance a program of strategically placed drill holes above and below the existing workings will provide valuable insight into the potential upside, whilst also providing important information for mining planning and expansion. In the context of the Lassonde Curve, the Company is about to embark upon the securing news flow that could lead to a rapid appreciation of shareholder value. This placement enables an earlier start to drilling that will address the potential.”
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