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Dacian Gold Announces Institutional Placement to Accelerate Exploration Programs

11 Jul 2018  |  09:20:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Institutional Placement to Accelerate Exploration Programs

Dacian Gold announced the launch of a A$37m Institutional Placement, with the ability to take oversubscriptions to raise up to an additional A$3m, to fund an accelerated exploration program and extinguish a royalty at its 100% owned Mt Morgans Gold Operation (MMGO), located 20 km south-west of Laverton in WA. The Institutional Placement will raise A$37m through the issuance of 13.7m shares at A$2.70 per share (Institutional Placement). At the completion of the Institutional Placement, the Company will have 219.5m shares on issue and a pro forma cash position of A$92m. The Institutional Placement will be accompanied by a Share Purchase Plan (SPP) of up to A$5m at the same issue price, the proceeds of which will be applied to fund exploration activities at Westralia and Cameron Well.

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