OD6 Metals Limited (ASX: OD6) has successfully raised AU$1.17 million through a well-supported share placement to professional and sophisticated investors. The funds will accelerate exploration at the Gulf Creek Copper Project, last drilled in the 1960s, with recent geophysical modelling identifying multiple high-priority drill targets. Drilling is set to commence soon, with DDH1 appointed as the lead contractor.
The placement consists of 26 million new shares at 4.5 cents per share, representing a 4.3% discount to the last closing price. Investors will also receive free attaching options, subject to shareholder approval at an upcoming EGM. JP Equity Holdings acted as the sole lead manager, with Yelverton Capital engaged as a corporate adviser. OD6’s Managing Director, Brett Hazelden, highlighted the importance of this capital raise in advancing exploration and ensuring the timely execution of Phase 1 and Phase 2 drilling programs.
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