Dacian raises A$20m for gold hunt

2nd December 2021 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Gold miner Dacian Gold on Thursday launched a fully underwritten A$20-million capital raise to fund exploration work in Western Australia.

The ASX-listed company will place 117.6-million shares, at a price of 17c each, under its existing placement capacity.

The offer price represented a 17.1% discount to Dacian’s last trading price on the ASX, and an 18.7% discount to the company’s five-day volume weighted average share price.

Funds raised will be used to complete the remaining pre-stripping activities at the Doubljay openpit operation, which will be completed by March next year, and to accelerate exploration programmes at the Jupiter deposit at the greater Mt Morgans project, following recent drilling success.