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The latest announcement is out from Redstone Resources Limited ( (AU:RDS) ).
Redstone Resources Limited has successfully completed a private placement, raising $600,000 to advance its drilling and exploration activities at the West Musgrave Copper Project. The funds will be used to continue the evaluation of the Chatsworth Prospect, including the deep diamond drill hole TLD005, which aims to explore beneath the Tollu copper deposit for potential high-grade copper-nickel mineralization. This strategic move is supported by a government grant and highlights the project’s potential, as evidenced by the nearby world-class Nebo-Babel deposit. The placement received strong backing from new and existing investors, reflecting confidence in Redstone’s exploration prospects.
More about Redstone Resources Limited
Redstone Resources Limited is a company operating in the mining industry, primarily focused on the exploration and development of copper projects. Its main project is the West Musgrave Copper Project located in Western Australia, which targets high-grade copper deposits.
Current Market Cap: A$6.48M
Learn more about RDS stock on TipRanks’ Stock Analysis page.