Dreadnought Resources Secures $8.5 Million for Gold Exploration Expansion

The latest update is out from Dreadnought Resources Limited ( (AU:DRE) ).

Dreadnought Resources Limited has announced a successful two-tranche placement to raise $8.5 million, with the first tranche already completed at $6,127,600. This funding supports their ‘Find More Gold, Faster’ strategy, aiming to transition into a self-funded explorer. Additionally, a Share Purchase Plan (SPP) is in place to raise up to $1.5 million from shareholders, with the ASX granting necessary waivers to facilitate this. The company’s strategic moves are expected to bolster its exploration capabilities and strengthen its market position.

More about Dreadnought Resources Limited

Dreadnought Resources Limited is a company operating in the mining industry, focusing on gold exploration and development. The company aims to enhance its position as a self-funded explorer, emphasizing rapid gold discovery and development.

YTD Price Performance: 20.0%

Average Trading Volume: 5,486,420

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$58.23M

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