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An announcement from Kula Gold Limited ( (AU:KGD) ) is now available.
Kula Gold Limited has announced a successful capital raising of $750,000 through a share placement to professional and sophisticated investors. This funding will support the company’s diamond drilling program at the Mt Palmer Gold Mine, where recent shallow RC drilling has yielded promising results. The initiative aims to further explore and understand the high-grade gold zones, with plans to transition to RC resource drilling following the diamond drilling phase. The placement was executed at a discount to the last closing price, with shares issued under the company’s existing placement capacity.
More about Kula Gold Limited
Kula Gold Limited is a company operating in the mining industry, primarily focused on gold exploration and development. The company is engaged in advancing its projects, with a particular emphasis on the Mt Palmer Gold Mine, where it aims to enhance its understanding of the gold system and improve resource estimation.
Technical Sentiment Signal: Sell
Current Market Cap: A$7.37M
Find detailed analytics on KGD stock on TipRanks’ Stock Analysis page.