Castle Minerals Limited (ASX: CDT) has secured AU$3 million from new and existing investors to advance exploration at its Kpali and Kandia Gold Projects in Ghana’s Upper West Region. The funds will boost working capital to ~AU$3.5 million, enabling Castle to accelerate drilling campaigns across its under-explored tenure. Follow-up RC drilling is planned at Kpali, where Castle recently intercepted 12m at 8.29 g/t Au from 25m depth, alongside campaigns at nearby high-potential targets like Bundi.
Additionally, Castle will undertake a 1-for-30 share consolidation to reduce volatility and attract institutional investors. Following this, loyalty options will be offered to eligible shareholders. Castle Executive Chairman Stephen Stone highlighted the strong investor demand as a vote of confidence in Castle’s Ghanaian gold projects, emphasizing the region’s gold potential and the company’s well-funded strategy to aggressively expand drilling operations and generate strong news flow in the coming months.
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