$3.6 Million Placement for Evaluation of Mt Martin Deposit
| Stock | Lefroy Exploration Ltd (LEX.ASX) |
|---|---|
| Release Time | 22 May 2026, 9:27 a.m. |
| Price Sensitive | Yes |
Lefroy Exploration Secures $3.6M Placement for Mt Martin Gold Deposit Evaluation
- Lefroy raises $3.6M before costs via share placement
- Directors commit $317,570, pending shareholder approval
- Funds to accelerate Mt Martin scoping studies and Burns drilling
- Expects significant value realization over the next 12 months
Lefroy Exploration Ltd. (ASX: LEX) has secured firm commitments to raise approximately $3.6 million through a share placement to institutional and sophisticated investors. The placement includes $317,570 from Lefroy Directors, subject to shareholder approval. This funding will accelerate the scoping studies and associated activities at the Mt Martin gold deposit and the high-grade gold core at Burns. The company expects significant value realization for shareholders over the next 12 months, from scoping studies of Mt Martin and Burns, and from anticipated cash flow from the Lucky Strike Profit Share.
Expects significant value realization over the next 12 months
Lefroy anticipates significant value realization for shareholders over the next 12 months from scoping studies of Mt Martin and Burns, and from anticipated cash flow from the Lucky Strike Profit Share.