Arrow Minerals cashed-up and planning to accelerate exploration in Burkina Faso
Arrow Minerals Ltd s (ASX:AMD) Howard Golden speaks to Proactive s Andrew Scott soon after announcing they ve received commitments from qualified sophisticated and professional investors to raise $3 million through the issue of 500 million shares at 6 cents per share. Golden says they re now in a position to rapidly define and grow its gold targets in Burkina Faso - at both its 100%-owned Arrow discoveries and those recently accessed through the recent deal with Trevali Mining.
Quick facts: Arrow Minerals Ltd
Price: 0.007 AUD
Arrow Minerals raises $3 million in strongly supported placement to accelerate exploration on multiple high-grade gold targets
Funds will be used to undertake high impact gold exploration in West Africa and gold and base metals exploration in Australia. The issue price of 6 cents per Share represents a 24.63% discount to the 20-day VWAP of 8 cents per share.
Arrow Minerals Ltd (ASX:AMD) has received commitments from qualified sophisticated and professional investors to raise $3 million through the issue of 500 million shares at 6 cents per share.
The placement includes participation by directors of the company, who have subscribed for 9,501,333 shares, the issue of which will be subject to shareholder approval at Arrow’s next general meeting.
Arrow Minerals (ASX:AMD) raises $3M to accelerate exploration
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Arrow Minerals (AMD) has received commitments to raise $3 million to accelerate its drilling and exploration programs in West Africa
500 million fully paid ordinary shares were issued to sophisticated and professional investors at 0.6 cents per share
Funds raised through the placement will go towards high impact gold exploration in West Africa and gold and base metal exploration in Australia
The placement will be issued in two tranches, with 133,238,176 shares issued by May 11, 2021 and 9,501,333 shares issued before July 2021
Arrow Minerals shares are trading flat at 0.7 cents
Arrow Minerals gears up to drill advanced targets in Burkina Faso as it seeks to unlock gold potential of Boromo Belt
Multiple new gold targets are being defined on both 100%-owned company ground and the new Trevali JV permits along the Boromo Greenstone Belt. The company plans to undertake RC drilling in the current quarter and diamond drilling in the first quarter of 2022.
Arrow Minerals Ltd (ASX:AMD) has its sights set on unlocking the gold potential of the Boromo Belt in Burkina Faso and is ramping up exploration efforts on its 1,500 square kilometre project.
The company is focused on growing the known Dassa gold deposit and drilling several advanced targets, as well as working to define multiple high-quality anomalies for drilling.
Arrow Minerals talks upcoming drill plans following positive RC results at Dassa gold deposit proactiveinvestors.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com.au Daily Mail and Mail on Sunday newspapers.