Overview of Dart Mining's recent announcement

Dart Mining NL (ASX:DTM) has announced a non-renounceable pro-rata offer of 1 New Share for every 3 Shares held on the Record Date at an issue price of $0.012 per New Share, along with 1 free-attaching New Option for every 2 New Shares subscribed for and issued. The offer also includes a Top-Up Offer and a Shortfall Offer, with the Entitlement Offer and the Top-Up Offer closing at 5.00pm (AEST) on 25 September 2024. Additionally, the company has secured firm commitments for approximately $1.8 million through a two-tranche placement of Shares at an issue price of $0.012 each. The proceeds from the Placement and the Offers will be utilized for various purposes including consideration payments for the acquisition of the Triumph Gold Project, resource definition diamond drilling, exploration diamond drilling, and general working capital.

Executive commentary on the recent announcement

The Prospectus, dated 2 September 2024, has been lodged with ASIC with the consent of all Directors. We have carefully determined the target market for the offer of New Options and will only distribute the Prospectus to those investors who fall within the target market determination. It's important to note that the Securities offered by this Prospectus are of a speculative nature. We have also listed the Company's Directors, Share Registry, Company Secretary, Lawyers, and Auditor in the Corporate Directory. The Prospectus includes an indicative timetable, details of the Offers, allocation policy, use of funds, minimum subscription, substantial shareholders, potential dilution, and information on ASX quotation, CHESS, SRN, and Ineligible Foreign Shareholders.

Summary of Dart Mining's announcement and outlook

Dart Mining NL (ASX:DTM) has initiated a non-renounceable pro-rata offer and secured firm commitments for approximately $1.8 million through a two-tranche placement of Shares. The company aims to utilize the proceeds for various purposes including consideration payments for the acquisition of the Triumph Gold Project, resource definition diamond drilling, exploration diamond drilling, and general working capital. The Prospectus, dated 2 September 2024, has been lodged with ASIC, and the company has determined the target market for the offer of New Options. Additionally, the Prospectus outlines various risk factors specific to the company and the mining industry. Dart Mining has also identified several risks and challenges that could impact its operations and financial performance, and provided information on the rights and liabilities attaching to shares, terms and conditions of new options, its status as a disclosing entity, dividend policy, and the interests of directors and other parties involved in the company. The company is a disclosing entity under the Corporations Act and is subject to regular reporting and disclosure obligations. Dart Mining aims to continue its strategic initiatives and utilize the raised capital effectively to drive its corporate strategy forward.