WIA Gold (ASX:WIA) is set to raise AU$30 million via the placement of 200 million shares priced at AU$0.15 apiece, according to a Tuesday filing with the Australian bourse.
The directors subscribed for AU$1.1 million of the placement, subject to shareholder approval.
Proceeds will be used to ramp up drilling in Namibia, start scoping study work, and advance the project towards definitive feasibility study completion, while covering drilling in the Ivory Coast, working capital, and corporate costs, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.