Iceni Gold Limited (ASX: ICL) has successfully raised $1.7 million through a heavily oversubscribed share placement to expedite gold exploration at the 14 Mile Well Project in Western Australia. The funds will support an extensive exploration program, including a maiden diamond drilling initiative at the Christmas Gift Prospect, known for its promising gold-bearing quartz veinlets.
The placement, which attracted commitments from various investors, will facilitate drilling at multiple priority targets, including the Guyer Well Trend and Crossroads. The company anticipates significant news flow over the next six months as exploration activities unfold. Additionally, the placement includes attaching options, reflecting investors' strong interest and confidence in Iceni's exploration prospects. Diamond drilling at Christmas Gift is scheduled to commence in the June quarter, followed by further drilling initiatives, ensuring a proactive approach towards exploration and potential discoveries.
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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.
