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Gold|PROJECT|Drilling
Gold|PROJECT|Drilling
gold|project|drilling

Viking raises funds for WA drilling

16th April 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior explorer Viking Mines will raise A$4-million in a share placement to sophisticated and professional investors to fund drilling at its First Hit gold project, in Western Australia.

The company said on Friday that it had received firm commitments for the placement of more than 111.11-million shares, at a price of 3.6c each, in an oversubscribed placement.

The shares will be placed under Viking’s existing placement capacity, and will not require shareholder approval.

Proceeds from the capital raise will be used to extend the Phase 1 drilling programme at First Hit, and to fund the start of Phase 2 drilling, as well as for general working capital.

Edited by Creamer Media Reporter

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