Auroch Minerals: Raises $2.65m for fresh exploration work

Auroch Minerals Raises $2.65m for fresh exploration work

• Auroch Minerals (AOU) will raise $2.65 million via a placement to accelerate exploration and drilling work at various projects in Australia and the US
• Under the placement, Auroch will issue roughly 55 million new shares at 4.8 cents — a 4 per cent discount to its last closing price
• The funds raised will go towards accelerating drilling at the recently-discovered Kangaroo Hills lithium prospect within the Nepean nickel-lithium project in Kalgoorlie
• The company will also put some of the funds towards drilling and exploration work at its Nevada project in the US, the Saints and Leinster projects in WA, and the Arden project in South Australia
• Shares in Auroch are up 1.89 per cent and trading at 5.2 cents at 3:09 pm AEDT