Godolphin Resources Seeks AU$1 Million via Placement

MT Newswires Live

03/26

Godolphin Resources (ASX:GRL) received commitments to raise AU$1 million through a single-tranche placement of 89.8 million fully paid ordinary shares at an issue price of AU$0.011 apiece, according to a Wednesday filing with the Australian bourse.

The issue price is a 15% discount to the last traded price of the company's shares. Allotment of the shares is expected on April 1.

Funds will be used to advance metallurgical studies and exploration target development at the company's Lewis Ponds gold-silver-base metals project in New South Wales, per the filing.

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