02/12/2021 - 12:00

Dacian raises $20m to expand Mt Morgans

02/12/2021 - 12:00

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Dacian Gold has secured funds to continue with expanding its Mt Morgans operations in WA and fast-track exploration.

Dacian raises $20m to expand Mt Morgans
Dacian Gold managing director Leigh Junk. Photo: Dacian Gold

Dacian Gold has secured funds to continue with expanding its Mt Morgans operations in Western Australia and fast-track exploration.

The goldminer is raising $20 million through a share placement, with almost 118 million shares to be issued at 17 cents each.

The offer is a 17 per cent discount to the company’s last traded price of 20.5 cents.

Canaccord Genuity and Euroz Hartleys are acting as lead managers to the raising, with Macquarie Capital as co-manager.

Dacian said it would use the funds to complete the remaining pre-stripping activities at the Doublejay open pit within the Jupiter mine, which is part of the company’s Mt Morgans operations in the Goldfields.

Proceeds from the placement will also be used to fast-track exploration in the area.

Leigh Junk-led Dacian entered a trading halt this morning, which is expected to lift on December 6.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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