Yandal Resources Limited, (ASX: YRL) confirmed the successful placement of 76.9 million fully paid ordinary shares at AU$0.052 per share, raising AU$4.0 million. The placement attracted substantial interest, oversubscribed by both existing and new institutional investors, major shareholders, and company directors. Each share issued in the placement includes a 1-for-2 free attaching option exercisable at AU$0.11.
This additional investment opportunity received a positive response from the market. The raised capital will primarily facilitate drilling activities at the Ironstone Well-Barwidgee, Mt McClure, and Gordon's projects, focusing on exploration target testing and Mineral Resource Estimate (MRE) related endeavors. Furthermore, it will accelerate the initial assessment for lithium across the Yandal Belt tenements. The company is set to commence drilling at the Ironstone Well-Barwidgee's Oblique prospect in the coming week.
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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.
