Dec 02 2024 1 mins
Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from St George Mining Ltd (ASX:SGQ).
The company has raised $3 million through a placement to sophisticated and institutional investors, with shares priced at $0.02. The funds will support exploration at the company’s existing projects while St George continues to finalise the acquisition of the Araxá Niobium-Rare Earth Element Project in Minas Gerais, Brazil, slated for completion in Q1 2025.
The placement involves 150 million ordinary shares and 75 million options, with participants receiving one free-attaching option for every two shares subscribed. Each option has a $0.04 exercise price and a two-year expiry.
Funds will advance exploration across St George’s portfolio, including:
Destiny Project - Drilling carbonatite targets and gold anomalies identified from reconnaissance drilling.
Mt Alexander Project - Targeting lithium and gold from surface sampling results.
Lithium Star Projects - Seven lithium-focused projects in Western Australia.
Paterson Project - Exploration in a mineral-rich region hosting significant copper and gold deposits.
Broadview Project - Focused on nickel-copper-PGE deposits.
Ajana Project - Exploration near WA’s Yilgarn Craton, following recent discoveries in the region.
St George expressed gratitude to investors, highlighting the placement’s role in advancing its projects. The company is planning another capital raise to support its acquisition of the Araxá Project
#ProactiveInvestors #StGeorgeMining #ASX #JusttheFacts #AraxáProject #RareEarthElements #NiobiumMining #ASXStocks #MiningInvestment #MineralExploration #LithiumProjects #GoldExploration #NickelCopperPGE #PatersonProvince #JulimarDiscoveries #WesternAustraliaMining #BrazilMining #CapitalRaising #ExplorationFunding #MiningUpdates #EnergyMinerals #MineralResources #MiningExpansion
The company has raised $3 million through a placement to sophisticated and institutional investors, with shares priced at $0.02. The funds will support exploration at the company’s existing projects while St George continues to finalise the acquisition of the Araxá Niobium-Rare Earth Element Project in Minas Gerais, Brazil, slated for completion in Q1 2025.
The placement involves 150 million ordinary shares and 75 million options, with participants receiving one free-attaching option for every two shares subscribed. Each option has a $0.04 exercise price and a two-year expiry.
Funds will advance exploration across St George’s portfolio, including:
Destiny Project - Drilling carbonatite targets and gold anomalies identified from reconnaissance drilling.
Mt Alexander Project - Targeting lithium and gold from surface sampling results.
Lithium Star Projects - Seven lithium-focused projects in Western Australia.
Paterson Project - Exploration in a mineral-rich region hosting significant copper and gold deposits.
Broadview Project - Focused on nickel-copper-PGE deposits.
Ajana Project - Exploration near WA’s Yilgarn Craton, following recent discoveries in the region.
St George expressed gratitude to investors, highlighting the placement’s role in advancing its projects. The company is planning another capital raise to support its acquisition of the Araxá Project
#ProactiveInvestors #StGeorgeMining #ASX #JusttheFacts #AraxáProject #RareEarthElements #NiobiumMining #ASXStocks #MiningInvestment #MineralExploration #LithiumProjects #GoldExploration #NickelCopperPGE #PatersonProvince #JulimarDiscoveries #WesternAustraliaMining #BrazilMining #CapitalRaising #ExplorationFunding #MiningUpdates #EnergyMinerals #MineralResources #MiningExpansion