The latest announcement is out from Desert Metals Ltd. ( (AU:DM1) ).
Desert Metals Limited has completed the second tranche of its placement, raising a total of $3.25 million before costs. This includes the allotment of over 108 million shares and the issuance of 26.5 million options to CPS Capital Group for their role as Lead Manager and Broker. The funds raised will support the company’s ongoing exploration activities, including drilling services at the King Kong prospect in Côte d’Ivoire. This strategic financial move is expected to bolster Desert Metals’ operations and strengthen its position in the gold exploration industry.
More about Desert Metals Ltd.
Desert Metals Limited is an ASX-listed gold exploration and development company with a focus on projects in Côte d’Ivoire, West Africa. The company has joint venture arrangements to earn majority interests in three gold projects covering over 1,073 km² of mineral permits. It currently owns 51% of the Tengrela South project and is working towards an 80% stake in the Adzope gold project.
Average Trading Volume: 1,028,360
Technical Sentiment Signal: Buy
Current Market Cap: A$6.52M
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