Ordell Secures AU$7 million to Accelerate Gold Exploration at Barimaia
Ordell Minerals Limited (ASX: ORD) has successfully raised close to AU$7 million through a share placement that attracted participation from both current shareholders and new institutional and sophisticated investors. The capital raise will primarily fund an extensive ~15,000-metre drilling campaign at the Barimaia Gold Project in Western Australia, with a focus on expanding high-grade mineralisation at the McNabs East Prospect and identifying new discoveries. The funds will also support early-stage exploration activities at the Goodia and Fisher South Gold Projects, along with general working capital requirements.
The placement involves the issue of 11.11 million new shares at AU$0.63 per share, representing discounts to both the company’s recent closing price and 15-day VWAP. Managing Director Michael Fowler highlighted that the strong investor backing would help accelerate exploration efforts and deliver consistent operational updates in the coming months. Argonaut Securities Pty Limited managed and coordinated the capital raising process as the Lead Manager and Bookrunner.
Customer Notice:
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.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Ordell Secures AU$7 million to Accelerate Gold Exploration at Barimaia
Ordell Minerals Limited (ASX: ORD) has successfully raised close to AU$7 million through a share placement that attracted participation from both current shareholders and new institutional and sophisticated investors. The capital raise will primarily fund an extensive ~15,000-metre drilling campaign at the Barimaia Gold Project in Western Australia, with a focus on expanding high-grade mineralisation at the McNabs East Prospect and identifying new discoveries. The funds will also support early-stage exploration activities at the Goodia and Fisher South Gold Projects, along with general working capital requirements.
The placement involves the issue of 11.11 million new shares at AU$0.63 per share, representing discounts to both the company’s recent closing price and 15-day VWAP. Managing Director Michael Fowler highlighted that the strong investor backing would help accelerate exploration efforts and deliver consistent operational updates in the coming months. Argonaut Securities Pty Limited managed and coordinated the capital raising process as the Lead Manager and Bookrunner.
Customer Notice:
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.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au