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Dampier to raise $387k for gold projects
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  • Dampier Gold will raise $387,684 in a placement at a price issue of 2.8¢ per share
  • The first transaction will consist of 11.5 million shares to be issued to raise $324,400 for working capital
  • The second transaction will consist of 2.2 million shares raising $63,284 to extinguish liabilities

Dampier Gold will raise $387,684 in a placement at a price issue of 2.8¢ per share.

The placement will consist of two transactions.

The first transaction will consist of 11.5 million shares to be issued to raise $324,400 for working capital.

The second transaction will consist of 2.2 million shares raising $63,284 to extinguish liabilities.

Dampier Gold is a gold exploration and mining company with one development mine and two major exploration projects.

The mine development project, K2 Gold mine, is under a binding farm-in joint venture with Vango Mining.

The gold mine is adjacent to the Plutonic Mine which is located in the East Murchison Goldfields north of Meekatharra, in Western Australia.

Dampier has the right to earn a 50% interest in the project for the expenditure of up to a maximum of $3 million with further contributions thereafter on a pro-rata (50:50) basis.

The company is committed to bring K2 Gold mine into production as soon as possible.

Dampier also holds 1,000 squared kilometres of exploration tenements covering several ancient paleo river channels in the Kimberley Region of Western Australia.

The company has also recently acquired two tenements north of Kalgoorlie in the Western Australian Goldfields, Menzies and Goongarrie.

The Menzies and Goongarrie acquisitions present exciting and cost-effective exploration opportunities for Dampier.

Dampier Gold has gained 3.45 per cent today and is currently selling shares at 3¢ per share.

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