Emerging explorer-developer Golden Deeps has completed a heavily oversubscribed placement to sophisticated and professional investors to raise $7.2-million for the issue of 379.3-million fully paid ordinary shares.
The funds raised will be used to fast-track metallurgical testwork and mining and processing studies on the company’s near-surface, high-grade copper, vanadium, lead, zinc and silver projects in the Otavi copperbelt of northern Namibia.
Moreover, the funds will be used to accelerate exploration drilling of high-grade copper/silver sulphide targets that have been identified down-plunge of the Nosib and Khusib Springs deposits in Namibia.
Golden Deeps intends to also use some of the funds to rapidly advance exploration of a potential new copper discovery at the Havilah project, in the Lachlan Fold Belt of central New South Wales, Australia.
“We are extremely pleased to have received such strong support from investors for this $7.2-million capital raising.
“We will now rapidly advance testwork and development studies for our high-grade vanadium and copper/lead/zinc projects in Namibia, as we look to develop near-term production of key battery metals products for renewable energy industries globally.
“We will also accelerate drill-testing of our high-grade brownfield copper/silver targets in Namibia, as well as copper and gold targets in the Lachlan Fold Belt of New South Wales,” says CEO Jon Dugdale.
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