Golden Rim raises cash for Kada exploration
PERTH (miningweekly.com) – Junior Golden Rim Resources will raise up to A$6.3-million to advance its Kada gold project, in Guinea.
The company said on Thursday that it would issue more than 67.9-million shares, at a price of 7.8c each, raising an initial A$5.3-million under its existing placement capacity. A further 10.4-million shares will be issued subject to shareholder approval.
Subscribers in the share placement will receive one free attaching option for every three shares subscribed for, exercisable at a price of 12c each, within 24 months of the date of issue.
In addition to the placement, Golden Rim will also undertake a share purchase plan (SPP) to raise a further A$1-million. The SPP will allow shareholders to subscribe for up to A$30 000 in additional shares in the company.
Funds raised will go towards exploration drilling at the Kada project, and towards working capital, Golden Rim said on Thursday.
“Golden Rim has had a terrific start to the year with our maiden Kada mineral resource estimate of 930 000 oz of gold and the release of our scoping-level metallurgical testwork at Kada that demonstrates the gold mineralisation is free-milling with high gold recoveries and can be processed via conventional carbon-in-leach,” said MD Craig Mackay.
“Our objective over the remainder of the year is resource growth with the focus on expanding the shallow oxide-transitional ounces at Kada. The maiden mineral resource is just the start. It is open at depth and along strike and only covers 1 km along the highly prospective 15 km Kada gold corridor.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...
VISIT SHOWROOM
As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
