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Koonenberry Gold Limited (ASX: KNB) has secured firm commitments from domestic and international institutional investors for a strategic share placement, raising AU$5 million before costs. The funds will support an accelerated drilling program exceeding 10,000 metres at the Enmore Project, along with continued exploration at the Company’s Lachlan projects.
The placement involves the issue of approximately 83.33 million new ordinary shares at AU$0.060 per share, reflecting a 3% discount to the closing price on 21 May 2025 and a 14% discount to the 30-day VWAP. Shares are expected to be issued on 27 May 2025 under the Company’s existing placement capacity. Managing Director Dan Power expressed confidence in the follow-on support from institutional shareholders and emphasized the Company’s focus on fast-tracking its exploration initiatives. The capital raise strengthens Koonenberry’s ability to deliver on its growth strategy across highly prospective gold assets.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
