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Platina Resources: Raises $2.23m to advance WA gold projects | Fintech InShorts: Latest fintech news, analysis by experts

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Platina Resources: Raises $2.23m to advance WA gold projects

By Steve Sam

August 5, 2022

Platina Resources Raises $2.23m to advance WA gold projects

Platina Resources (PGM) receives firm commitments to raise $2.23 million through a share placement to fund its WA gold portfolio
The money will be directed towards reverse circulation drilling at the Xanadu project, phase two air-core drilling at the Challa project, acquisition costs of Sangold Resources, and working capital
Further, Platina may use the funds to progress its master alloy development program and permitting work to secure a mining license for its namesake scandium project in NSW
The company will issue up to 89 million new shares at 2.5 cents per share as part of its placement capacity to raise the funds
Shares in Platina are trading 11.11 per cent lower at 3.2 cents per share at 1:16 pm AEST