(MENAFN - ABN Newswire) Resolution Minerals Ltd (ASX:RML) is pleased to announce it has received firm commitments for a placement of fully paid ordinary shares in the Company to sophisticated investors to raise a total of $3.25 million (before costs) at an issue price of $0.028 per Share (Placement) to progress the Company's gold 64North Project in Alaska and the Company's copper-cobalt projects in Australia at the Wollogorang and Benmara Projects in the Northern Territory. Resolution is very pleased to have cornerstone support of $2m from Fresh Equities.
Managing Director Duncan Chessell Commented:
The funds will be directed to drill testing large-scale potential gold and copper prospects across the Company's portfolio of projects in Alaska and Australia. We will also be generating new targets on the copper-cobalt Wollogorang and Benmara Projects in Australia. Global uncertainty and volatility retain gold's attractiveness and the voracious appetite for copper, cobalt, nickel, aluminium and other battery metals required to convert the world from fossil fuels to green electrical alternatives is now a short-medium and long-term reality. These factors position Resolution to create short and medium-term value for shareholders on exploration success.