Stavely Minerals' successful capital raising

Stavely Minerals (ASX:SVY) has successfully raised A$1.5 million through a placement to sophisticated investors. The funds will be used mainly for diamond drilling at the Junction copper-silver prospect in Western Victoria, as well as for working capital. The placement included shares priced at A$0.024 each, offering a discount to recent prices.

Overview and future plans for Stavely Minerals

Stavely Minerals successfully raised A$1.5 million through a discounted placement priced at A$0.024 per share, accompanied by options for every two shares. The company plans to use the funds to advance its diamond drilling program at the Junction copper-silver prospect, aiming to confirm structural controls and extend known mineralisation. With settlement expected in late November 2024, Stavely Minerals is focused on expanding its resource base, supported by investor confidence and strategic exploration efforts. The company remains committed to exploring high-grade copper and silver prospects in Western Victoria, aligning with industry priorities.

Executive insights from Stavely Minerals

The funds raised will be instrumental in advancing our drilling program at the Junction prospect, where we aim to confirm and extend high-grade copper and silver mineralisation. We are grateful for the support from our investors and are eager to proceed with our exploration initiatives.