Castle Minerals has received firm commitments from professional and sophisticated investors to subscribe for 126,843,833 fully paid new ordinary shares in the Company at an issue price of $0.012 per share to raise $1,522,126 before costs.
Castle Managing Director, Stephen Stone, states: “This heavily oversubscribed $1.52 million placement to top-up existing working capital places Castle on a strong footing to accelerate towards the drilling phase several projects it has been incubating with the ultimate intention of confirming ‘flag-ship’ status at one or more of these.”
“The recently completed Kambale graphite project test work was very encouraging and, as well as advancing that to the next stage, Castle is on the look-out to increase its exposure to the fast-evolving battery minerals exploration sector.”
“The Company’s licence adjacent to the very interesting Earaheedy zinc-lead project of Rumble Resources ticks many of the same geological boxes, whilst the Polelle gold
project is south of the fast growing Side Well project of Great Boulder Resources and
adjacent to the Tea Well project of unlisted “AI-enhanced” explorer, SensOre.
At Beasley Creek in the Pilbara, Castle has been building a strong case to test for structurallycontrolled, orogenic gold mineralisation.”
“Existing shareholders and new investors can therefore look forward to a strong news flow and series of investment catalysts over coming months.”