trending Market Intelligence /marketintelligence/en/news-insights/trending/qQyG5WJoqZwgS_z_QyezIQ2 content esgSubNav
In This List

Exore to raise A$10M to fund drilling in Cote d'Ivoire gold projects

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Exore to raise A$10M to fund drilling in Cote d'Ivoire gold projects

Exore Resources Ltd said Sept. 30 that it has received firm commitments to raise gross proceeds of A$10 million through an equity placement, which will be used to accelerate drilling and exploration activities in the company's different gold projects in Cote d'Ivoire and as general working capital.

The placement will consist of about 117.6 million shares at 8.5 Australian cents apiece, of which an initial tranche of about 69 million shares are expected to be issued on or about Oct. 4 and the remaining 48.6 million shares on or about Nov. 18.

The company aims to use the proceeds to accelerate drilling on the Veronique gold discovery with a combination of reverse circulation, diamond core, aircore, and auger drilling planned from early November onwards, to further step-out drilling on the Antoinette gold discovery testing for oxide strike extensions, and for regional exploration on the Bagoe and Liberty projects.

The placement price represents a 2% and a 6% discount to Exore's 30-day and 15-day VWAP share price, respectively.