3D Resources (ASX:DDD) eyes $500,000 for Adelong – The Market Herald

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  • Mineral explorer 3D Resources (DDD) receives firm commitments to raise $500,000 via equity placement
  • The funds will be raised by issuing 250 million fully paid ordinary shares to sophisticated and professional investors at a price of 0.2 cents
  • 3D Resources will use the money to finalize the upgrade of its initial scoping study on the Adelong gold project which has confirmed an attractive commercial project
  • The money will also go towards expanding exploration activities and recommissioning the existing gold mine and processing plant in Adelong.
  • 3D Resources shares have been trading at 0.3 cents since June 1

Mineral explorer 3D Resources (DDD) has received firm commitments to raise $500,000 through an equity placement.

The funds will be raised by issuing 250 million fully paid ordinary shares to sophisticated and professional investors at a price of 0.2 cents.

3D Resources will use the money to finalize the upgrade of its initial scoping study on the Adelong gold project in New South Wales.

Despite extracting only around 40% of JORC’s current resources in Adelong, the scoping study has demonstrated an attractive business venture.

The money will also go towards expanding exploration activities and recommissioning the existing gold mine and processing plant in Adelong.

3D Resources hopes to add additional resources and reopen the existing gold mine and processing plant while expanding and restructuring the management team.

“We are delighted to complete this placement which will allow the company to finalize the first phase of the program in Adelong, which has successfully established a viable gold project,” said Managing Director Peter Mitchell.

“Now that the company has demonstrated the viability of the project, it will pursue an expansion of management and staff, streamlining its corporate structure to focus on the potentially highly profitable Adelong gold project and other regional opportunities. ”

Shares of 3D Resources have been trading at 0.3 cents since June 1.

About William J. Harris

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