Octava Minerals Limited has completed an AU$1 million placement

Octava Minerals Limited (ASX: OCT) announced that it has successfully secured firm commitments to raise AU$1 million by issuing approximately 11.8 million fully paid ordinary shares to sophisticated investors at AU$0.085 per share. Chairman Clayton Dodd, Non-Executive Director Damon O'Meara, and Managing Director Bevan Wakelam are set to subscribe for up to AU$150,000 on the same terms, pending shareholder approval. This resounding support for the placement will fuel its exploration of the exciting antimony project at Yallalong as it aims to unearth high-grade targets through strategic drilling.

The company appreciates its fellow directors' relentless backing of their intended subscription, which will bolster its available working capital to over AU$ 2 million upon completion. Notably, Yallalong boasts some of the highest antimony grades recorded in Australia. These outstanding grades, coupled with the favorable Antimony price outlook, paint a promising picture for its exploration plans and the potential for substantial growth in shareholder value.

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