https://www.miningweekly.com
Exploration|Gold|Resources|Surface|Drilling
Exploration|Gold|Resources|Surface|Drilling
exploration|gold|resources|surface|drilling

Spartan raises A$25m for Dalgaranga gold strategy

17th November 2023

By: Creamer Media Reporter

     

Font size: - +

Exploration and development company Spartan Resources on Friday announced a A$25-million institutional placement to accelerate its growth strategy at Dalgaranga, in Western Australia’s Murchison region.

The ASX-listed gold junior received firm commitments from domestic and international resource investors to raise A$25-million through a targeted institutional placement priced at A$0.40 a share.

The proceeds will be used to underpin an expanded exploration campaign at Dalgaranga next year, including drilling Never Never Deeps and growing this high-grade resource beyond the mineral resource estimate that is scheduled for December.

“The Spartan team is committed to ensuring a thorough and detailed approach is taken to the delineation of the Never Never orebody and the surrounding targets. Spartan is focused on expanding the Never Never footprint with the most recent results hitting broad mineralisation more than 500 m from the surface,” said CEO Simon Lawson.

Spartan will work towards completing a feasibility study on a fully integrated restart of Dalgaranga, based on its new high-grade strategy.

On completion of the placement, Spartan will have a proforma cash position of A$53.2-million.

Edited by Creamer Media Reporter

Comments

Latest News

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (10/05/2024)
10th May 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.147 0.185s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: