Lodestar Raises $4.7 Million for Exploration
Key points
- Lodestar secures $4.4M in firm commitments
- Directors to subscribe for $305,700
- Funds to advance projects in Chile, USA, and Australia
Full summary
Lodestar Minerals Limited has raised approximately $4.7 million through a private placement to support its exploration activities across three key projects: high-impact copper exploration in Chile, rare earth exploration in the USA, and the advancement of the Ned's Creek Gold Project in Western Australia. The placement, led by Oakley Capital Partners, was upsized due to strong demand from existing and new shareholders. Directors are also committing $305,700 to the capital raising, subject to shareholder approval. The funds will be used to advance drilling programs in Chile, conduct surveys in Arizona, and complete a maiden Mineral Resource Estimate for the Ned's Creek Gold Project.
Guidance
None
Outlook
Lodestar expects to deliver significant exploration results in the coming months, particularly from the Three Saints and Los Loros projects in Chile and the Ned's Creek Gold Project in Western Australia.
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