Dreadnought Secures AU$8.5 million to Accelerate Gold Exploration

Dreadnought Resources Ltd (ASX: DRE) has successfully secured firm commitments for a two-tranche AU$8.5 million placement at AU$0.012 per share, with participation from Black Cat Syndicate contributing AU$1 million. Additionally, the company plans an AU$1.5 million Share Purchase Plan (SPP) at the same price, subject to ASX waiver approval. 

The raised funds will be directed towards advancing the Mangaroon Gold Project, including resource drilling, mining approvals, and a gravity gold study, alongside exploration at Illaara. The company remains committed to rapidly identifying gold resources and optimizing its potential partnership with Black Cat Syndicate’s Paulsens processing facility. Managing Director Dean Tuck expressed gratitude for investor support, emphasizing Dreadnought’s goal of "finding more gold, faster." Petra Capital acted as Sole Lead Manager and Bookrunner for the placement.

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