Total
0
Shares
Yandal Resources (ASX:YRL) - Managing Director, David Hughes
Managing Director, David Hughes
Source: HotCopper
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Western Australian focused gold explorer Yandal Resources (YRL) is looking to raise $3.4 million via a non-renounceable rights offer
  • The funds will be used for exploration at the Gordon’s Project and the Mt McClure Project in WA’s Yandal Greenstone Belt and for working capital
  • Under the rights offer, Yandal will issue up to 13.37 million shares for 25 cents each on a one for five basis
  • Yandel’s share price is down 10.3 per cent to 26 cents per share

Western Australian focused gold explorer Yandal Resources (YRL) is looking to raise $3.4 million via a non-renounceable rights offer.

The funds will primarily be used for exploration at the Gordon’s Project and the Mt McClure Project in WA’s Yandal Greenstone Belt, as well as for working capital purposes.

Under the rights offer, Yandal will issue up to 13,369,595 million shares for 25 cents each. The offer is on the basis of one new share for every five held on the record date of June 17, 2020.

There is no minimum subscription under the offer for eligible shareholders in Australia and New Zealand.

If fully subscribed, and no options are exercised before the record date, the new shares will bring Yandal’s total issued capital to 80,217,570 shares.

The offer is not underwritten, but Panthea Capital Partners, as the lead manager of the offer, will place any shortfall.

Yandel’s share price is down 10.3 per cent to 26 cents per share at 11:30 am AEST.

YRL by the numbers
More From The Market Herald
Suvo Strategic Minerals (ASX:SUV) - Executive Director, Aaron Banks (left) and Executive Chairman, Robert Martin (right)

" Suvo Strategic Minerals (ASX:SUV) begins drilling at Nova

Suvo Strategic Minerals (SUV) has begun the second phase of drilling at its Nova silica sands project in Western Australia.

" Torian Resources (ASX:TNR) extends Tyrannus gold footprint

Torian Resources (TNR) has extended gold mineralisation at the Tyrannus prospect within the Mt Stirling gold project near Lenora in Western Australia.
Tempus Resources (ASX:TMR) - Non Executive Chairman, Alexander Molyneux

" Tempus Resources (ASX:TMR) hits 33.7g/t gold at Blue Vein

Tempus Resources (TMR) has intersected up to 33.7 grams of gold per tonne (g/t) from the newly discovered Blue Vein.
West African Resources (ASX:WAF) - Executive Chairman, Richard Hyde

" West African Resources (ASX:WAF) to acquire 90pc interest in Kiaka

West African Resources (WAF) has entered into definitive agreements to acquire 90 per cent of the Kiaka gold project from B2Gold and their