Dreadnought Resources Ltd (ASX:DRE) Successfully Raises $8.5M in Capital Placement
Capital Raising
Dreadnought Resources Ltd has secured $8.5 million through a two-tranche Placement at $0.012 per share. Black Cat Syndicate Limited (ASX:BC8) has committed $1 million to the Placement. Additionally, a Share Purchase Plan (SPP) capped at $1.5 million is available to eligible shareholders, subject to an ASX waiver.
Executive Comments
Managing Director Dean Tuck stated, “We are delighted with the support for the Placement, including Black Cat Syndicate, and welcome a number of new professional and sophisticated investors to the register. Funds raised from the Placement will allow us to continue to advance the Mangaroon Gold Project, including Resource and regional drilling, complete mining approvals and studies, including a gravity gold study, along with drilling at Illaara. This is a strong environment for gold and we intend to find as much gold as we can in the shortest possible time. Finding more gold, faster. Our recent gold consolidations around Mangaroon are testament to that philosophy. Producing a gold Ore or concentrate for Black Cat Syndicate’s processing facility at Paulsens also remains a priority. We also hope to offer the opportunity for eligible shareholders on the record date to participate in an SPP at the same price as the Placement. On behalf of the Board, I would like to thank our shareholders for their ongoing support.”
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.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.