Dreadnought Resources Ltd (ASX:DRE) Completes Share Purchase Plan
Share Purchase Plan Completion
Dreadnought Resources Limited has closed its Share Purchase Plan, issuing 143,800,000 shares and raising $1,725,600. The SPP was oversubscribed, but the Company did not apply any scale back to participation.
Placement Details
Additionally, the Company conducted a placement, raising $6,127,600 in the first tranche. A second tranche to raise $2,372,400 is pending shareholder approval at the general meeting on 9 May 2025.
Executive Comments
Managing Director Dean Tuck stated, “We are delighted with the support for the SPP which further allows us to advance the Mangaroon Gold Project. Funds will be applied to Resource and regional drilling, mining approvals/studies, a gravity gold study and 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 high-grade gold Ore or concentrate remains a priority.”
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