PERTH (miningweekly.com) – Gold miner Dacian Gold has completed its A$20-million equity raising, which was announced last week.
The ASX-listed miner on Monday said the share placement had been well supported by existing and new institutional shareholders, with 117.6-million new shares to be issued, at a price of 17c each.
The placement represented 12.2% of the company’s current number of ordinary shares in issue, and was within the existing placement capacity under ASX listing rules.
“We appreciate the support from existing and new shareholders as we look to invest the proceeds into the ground at Jupiter with our exploration programme and support our investment at Doublejay where we are targeting positive cash flow during the March quarter,” said MD Leigh Junk.
The placement ensures Dacian is well funded to deliver 2022 guidance through its tiered production profile as Doublejay ore mining and underground production ramps up in the second half of 2022, and to test the potential below the Jupiter openpit where recent exploration success has demonstrated the size and scale of the opportunity.