Godolphin Resources Limited: Firm Commitments to Raise AU$1.2million Secured

Godolphin Resources Limited (ASX: GRL) secured commitments from sophisticated, professional, and institutional investors to raise an impressive AU$1.2 million. This will be achieved by issuing 96,000,000 fully paid ordinary shares for AU$ 0.0125 per share.

The funds raised will propel its exploration initiatives at the Company’s 100%-owned Lewis Ponds gold, silver, and base metals project in the Lachlan Fold Belt. These initiatives will involve dynamic activities such as diamond drilling and metallurgical test work to elevate the confidence level in the upper portion of the resource and update the current JORC 2012 Inferred Resource of 6.20 Mt at 2.0g/t gold, 80g/t silver, 2.7% zinc, 1.6% lead, and 0.2% copper.

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