Adelong Gold Secures Additional AU$400,000 in Placement to Advance Gold and Lithium Projects.

Adelong Gold Limited (ASX: ADG) has successfully secured an additional AU$400,000 in a placement following its recent AU$1.173 million capital raising, bringing the total funds raised to AU$1.573 million. The placement involves issuing 95,238,095 ordinary shares at AU$0.0042 per share, along with 1:2 free-attaching options with an exercise price of AU$0.008, expiring in May 2029, subject to shareholder approval. The funds will support exploration drilling at the Adelong Gold Project, project development under a farm-in agreement with Great Divide Mining, lithium exploration in Brazil, and general working capital. 

Additionally, Adelong Gold will issue 150 million options to Bullseye Analytics for digital marketing services, enhancing investor engagement. Managing Director Ian Holland emphasized strong investor confidence and the company’s commitment to accelerating gold production and lithium development. A general meeting for shareholder approval is expected in late March 2025.

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