Paterson Resources Secures A$2 Million for Grace Project Expansion

Paterson Resources ( (AU:PSL) ) has shared an announcement.

Paterson Resources Limited has announced a successful A$2 million capital raising initiative through a placement and entitlement offer. The placement, supported by top shareholders and sophisticated investors, raised approximately A$910,000, while the entitlement offer aims to raise an additional A$1.09 million. The funds will be used to finance an 8,500m drilling program at the Grace Project, facilitating resource expansion and the progression of a mining license application, which could significantly enhance the company’s operational capabilities and market position.

More about Paterson Resources

Paterson Resources Limited is a company engaged in the mining industry, focusing on exploration and development projects. The company is involved in expanding and upgrading existing resources, particularly at the Grace Project, and is working towards obtaining a mining license and completing a scoping study.

Average Trading Volume: 771,892

Technical Sentiment Signal: Hold

Current Market Cap: A$9.58M

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