Dart Mining (ASX:DTM) is raising $2.86 million to fund drilling at its flagship Triumph Gold Project and the Coonambula Antimony-Gold Project in central Queensland, with the company confirming commitments from professional and sophisticated investors.
Tranche one will close with $300,000 via the issue of around 1.51 million shares at an offer price of $0.0017, representing a 43% discount to the last closing price on 8 August.
Oakley Capital Partners is acting as the lead manager for this placement, earning 6% of total funds raised as well as broker options, subject to shareholder approval.
Dart will host a shareholder meeting in September 2025, to gain approval for the issue of 1.51 million shares to investors, also raising its offer for one free option per every two shares subscribed to shareholders.
Following the settlement of the second tranche, a one for 15 consolidation of shares and options will be conducted, also subject to shareholder approval at this upcoming meeting.
Along with general working capital, funds raised will be deployed to advance drilling at both Triumph, which falls in the New England Ford Belt of southeast Queensland, and Coonambula, which is strategically located just 130km from Triumph.
Dart has the opportunity to stake a 51% interest in the Coonambula Project under a farm-in agreement with Great Divide Mining (ASX:GDM) following the completion of 4,000m of drilling and two resource reports within two years, as reported by Mining.com.au.
Dart Mining is an Australian explorer focused on unearthing precious and critical minerals along the eastern coast of Australia.
Write to Maddison Elliott at Mining.com.au
Images: Dart Mining
