Dacian Gold has raised nearly $31m (A$40m) through institutional share placement to accelerate new discoveries and advance growth projects into production.
Dacian Gold digs in for $40m equity raising
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Gold miner Dacian Gold is seeking early support for an equity raising that could see it raise about $40 million.
It is understood Dacian Gold and its stockbroker Canaccord Genuity started lining up potential cornerstone backers on Tuesday afternoon, ahead of the offer launching more widely.
Dacian Gold is back in front of investors seeking fresh funds.
Louie Douvis
The stock closed at 30¢ a share on Tuesday, having started the day at 32¢.
The mooted raising comes only days after Dacian Gold released drilling results at Mt Marven, which is located at its 100 per cent owned Mt Morgans Gold Operation in Western Australia.
The Dacian Gold (ASX:DCN) share price has slumped 5%. Here’s why.
Ken Hall | April 29, 2021 10:54am |
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Dacian Gold Ltd (ASX: DCN) share price is one ASX share to watch today. Shares in the Aussie gold miner have dropped 5.4% in early trade after the company’s latest quarterly update.
Why is the Dacian Gold share price slumping?
The big news today was Dacian’s latest production and activities numbers. Dacian reported March quarter production of 21,400 ounces of gold at an all-in sustaining cost (AISC) of $1,874 per ounce. Those numbers came from the Mt Morgans Gold Operation (MMGO) output with year to date production of 81,361 ounces.