Funds To Support Morilla Super Pit Growth
Firefinch Limited (ASX: FFX) has revealed its intends to offer eligible shareholders in Australia and New Zealand the opportunity to participate in a Share Purchase Plan (SPP) of up to $30,000 per shareholder.
The company intends to target raising up to A $25 million (before costs) (43.1 million new shares) under the SPP, however, the company reserves the right to accept oversubscriptions or to scale back applications in its absolute discretion.
Funds raised under this SPP will be applied to:
• Ongoing ramp-up and development activities at the Morila Gold Project, including further dewatering and tailings repatriation from the Morila Super Pit, pre-strip and mining of the satellite pits at Viper and N’Tiola, and pre-stripping at Morila to allow commencement of open pit mining.
• Continuation of exploration, resource development and expansion drilling at the Morila Super Pit (including investigation of the underground potential), to build on Firefinch’s recent drilling success, and to further test the potential of, not only the known deposits, but also the 685 sq; km of regional tenure.
• The recommencement of drilling at the Goulamina Lithium Project aimed at both converting Inferred resources to Indicated, and further expanding the resource base to provide for mine life extensions, and
• General working capital to meet overheads across both the gold and lithium businesses, including supporting the planned demerger of Leo, and costs of the SPP.
For further information please visit: https://firefinchltd.com/
