Iceni Gold Secures $700k for Exploration
Key points
- $700k raised for exploration at 14 Mile Well Gold Project
- Gold Fields increased shareholding to ~9.5%
- Focus on high-priority Goose Well prospect
- Additional exploration at new target areas
- Assay results expected in September
Full summary
Iceni Gold Limited (ASX: ICL) has announced a successful capital raising of $700k to support exploration activities at its 14 Mile Well Gold Project (14MWGP) in Western Australia. The placement, supported by existing shareholders and new investors, including Gold Fields Limited, will increase Gold Fields' shareholding to approximately 9.5%. The funds will be used to continue exploration at the high-priority Goose Well prospect and new target areas such as Never Can Tell, Redcastle East, and Pennyweight East. Iceni also plans to assess new opportunities to complement its existing projects. Assay results from recent drilling at Goose Well are expected in September, providing significant news flow over the next six months.
Guidance
Iceni Gold plans to use $700k raised to fund exploration activities.
Outlook
Iceni Gold anticipates significant news flow over the next six months and expects assay results from recent drilling in September.
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