Hamelin Gold Secures $2.8 Million to Fast-Track WA Gold Exploration

Highlights:

• $2.8 million raised through a placement priced at $0.07 per share to accelerate exploration at Hamelin Gold's WA gold projects.
• Gold Fields Limited boosts stake to ~17.7%, investing ~$815k in the placement.
• Directors commit ~$100k, pending shareholder approval, with funds allocated to drill programs in West Tanami and Yilgarn regions.

Capital Raise Gains Momentum with Strong Shareholder Backing

Hamelin Gold Limited (ASX: HMG) has secured firm commitments to raise approximately $2.8 million (before costs) through a placement priced at $0.07 per share. The capital raise, announced by the company’s board, aims to accelerate exploration efforts across Hamelin’s 100%-owned gold projects in Western Australia.

At the time of writing, the placement received significant support from key stakeholders, including major shareholder Gold Fields Limited, which contributed approximately $815,000 for 11.63 million shares. This investment raises Gold Fields’ stake in Hamelin to around 17.7% of the company’s issued capital.

Directors Join Placement, Pending Approval

Adding to the positive sentiment, Hamelin’s directors and their related parties have also committed to participate in the placement, subscribing for an additional ~$100,000 worth of shares. However, this allocation is subject to shareholder approval.

The placement share price represents a 13.2% discount to the company’s 10-day volume-weighted average share price, making it an attractive entry point for new and existing investors.

Exploration Programs to Accelerate Across Key Projects

Proceeds from the placement will be used to fund a robust drilling program across Hamelin’s West Tanami and Yilgarn region assets. Planned activities include RC and diamond drilling at targets such as Jazz, Fremlins, Camel, and Hutch’s, as well as aircore drilling and geochemical sampling in unexplored zones.

In the Yilgarn region, Hamelin plans to drill the Anderson gold anomaly and conduct follow-up drilling at Ularring, while progressing initial testing at the Venus project near Cue.

Joint Lead Managers for the placement were Chieftain Securities (WA) Pty Ltd and Cygnet Capital Pty Ltd. Subject to shareholder approval, they will also receive 2 million options, exercisable at $0.15 each within 24 months.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com