Dart Mining Secures AU$3 million to Fund Drilling at Triumph Gold Project

Highlights:

• AU$3 Million Capital Raise: Dart Mining NL (ASX: DTM) secured firm commitments for a two-tranche placement, issuing 600 million shares at AU$0.005 per share to fund exploration.
• Shareholder Approval Required: Tranche 1 will raise AU$448,542, while Tranche 2 (AU$2.55 million) is subject to approval at a March/April 2025 shareholder meeting.
• Funding Exploration & Growth: AU$2 million will go towards diamond drilling at the Triumph Gold Project, with the remainder allocated to new project generation and working capital.

Capital Raise to Support Exploration Efforts

Dart Mining NL (ASX: DTM) has successfully secured firm commitments for a two-tranche capital raise totaling AU$3 million to advance exploration at the Triumph Gold Project. The placement, which involves issuing 600 million new fully paid ordinary shares at AU$0.005 per share, aims to finance diamond drilling and new project opportunities.

Placement Details and Shareholder Approval

The first tranche, raising AU$448,542, will see the issuance of 89,708,337 shares under ASX Listing Rule 7.1. The second tranche, pending shareholder approval at a March/April 2025 meeting, will issue 510,291,663 shares to raise an additional AU$2.55 million. The placement price reflects a 16.67% discount to Dart Mining’s closing price on February 21, 2025.

To further incentivize investors, Dart Mining will seek shareholder approval to issue one free option for every two new shares. These options will be exercisable at A$0.01 and will expire in three years. Additionally, 110 million lead manager and broker options will be issued under the same terms, with an application for ASX listing subject to regulatory criteria.

Funding Exploration and Growth

At the time of writing, Dart Mining confirmed that A$2 million from the placement will be allocated to diamond drilling at Triumph Gold, while the remaining funds will support new project generation and general working capital. CPS Capital Group Pty Ltd acted as the lead manager, with Zerp Capital Pty Ltd assisting in the process.

The strong support from both existing and new shareholders underscores confidence in Dart Mining’s exploration strategy and long-term growth potential.

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