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Corazon Mining Restricted (ASX:CZN) (‘Corazon’ or ‘Firm’) is happy to announce it has obtained agency commitments to lift $1.8 million (earlier than prices) through a placement to stylish, institutional {and professional} traders and Administrators (topic to shareholder approval) of 12 million new absolutely paid peculiar shares within the Firm (‘New Shares’) at a problem value of $0.15 per New Share (‘Placement’). The Placement obtained sturdy demand and can see the Firm well-funded to speed up exploration actions throughout its Western Australian Gold Portfolio.
Highlights
- $1.8 million raised through a strongly supported Placement to new and present subtle and institutional traders at $0.15 per share.
- Funds for use to speed up the Firm’s WA Gold technique together with the maiden drill program on the Feather Cap and Two Swimming pools Gold Tasks, following the profitable granting of key exploration tenements at Two Swimming pools.
- Corazon Administrators have dedicated to subscribe for 500,000 New Shares ($75,000) within the Placement, topic to shareholder approval.
- Robust pipeline of stories circulation deliberate for CY2026, with maiden drill program at Two Swimming pools deliberate for early Q1 to substantiate high-grade historic outcomes, topic to completion of heritage surveys.
Corazon Mining Ltd Managing Director, Simon Coyle, commented: “We’re extraordinarily happy with the sturdy help obtained from new and present traders. This funding places Corazon in a powerful place to fast-track on- the-ground actions at our high-priority WA gold tasks, significantly the Two Swimming pools Gold Venture, the place preparations for our maiden drill program are properly underway. We look ahead to commencing drilling in early 202c to check the numerous gold potential of this space.”
Use of Funds
Funds raised from the Placement will primarily be used to speed up the Firm’s strategic WA gold technique. Following the profitable granting of two core tenements on the Firm’s Two Swimming pools Gold Venture (E52/4460 and E52/4468)1, Corazon is properly positioned to fast-track on-the-ground exploration.
Preparations for the maiden drill program at Two Swimming pools are at present being finalised, with a diamond drill program anticipated to begin in early 2026, topic to completion of heritage surveys. This preliminary program will intention to substantiate high-grade historic outcomes and supply Corazon with important data to tell the Firm’s geological modelling and future exploration actions.
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