Krakatoa Resources Secures Funding for Zopkhito Antimony-Gold Project
Key points
- Firm commitments received to raise $2.4 million via a placement
- Strategic placement anchored by a $1.8 million investment from a Hong Kong-based private investor
- Funds to secure initial 10% ownership in the Zopkhito Antimony-Gold Project
Full summary
Krakatoa Resources Limited (ASX: KTA) has announced a strategic placement to raise $2.4 million to fund its initial earn-in for the Zopkhito Antimony-Gold Project. The placement, at $0.006 per share, includes one free-attaching unlisted option for every four shares subscribed. The placement is anchored by a $1.8 million investment from a Hong Kong-based private investor, Ms. Hui Ling, known for successful investments in global natural resources. The funds will secure Krakatoa's initial 10% ownership in Zopkhito for US$875,000, with the aim to eventually own up to 80% of the project. The remaining proceeds will accelerate exploration and development programs, including resource definition drilling, bulk sampling, and metallurgical test work.
Guidance
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Outlook
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