West Perth-based Encounter Resources has tapped investors for $3.4 million to fund ongoing exploration at its gold projects in the eastern Pilbara region.
West Perth-based Encounter Resources has tapped investors for $3.4 million to fund ongoing exploration at its gold projects in the eastern Pilbara region.
Encounter has raised $2.9 million through the placement of 29 million shares at 10 cents each, and has launched a share purchase plan at the same price to raise a further $500,000.
“Proceeds from the placement will be primarily used to advance exploration at Encounter’s Telfer West and East Thomson’s Dome gold projects and for general working capital purposes,” Encounter said in a statement.
“The company is delighted to welcome Acorn Capital, a leading global resources fund, as a significant new shareholder, providing further endorsement of the company’s project portfolio and exploration approach.”
Encounter shares were unchanged at 10 cents each at the close.
