Alderan Resources Limited (ASX: $AL8) Capital Raising Announcement

Alderan Resources Limited (ASX: $AL8) has announced its intention to conduct a capital raising of approximately $1,604,861 through a placement to sophisticated investors and a subsequent non-renounceable pro-rata entitlement offer to eligible shareholders. The funds raised will be primarily applied towards exploration activities at the Company's existing USA and Brazil projects, with an immediate focus on Stage 1 drilling at the New Years prospect within its Cactus copper-gold project area in Utah, USA.

Executive Commentary on Capital Raising

The Company is pleased to have received firm commitments totaling $0.332 million via a Placement to sophisticated investors. Additionally, the Rights Issue aims to raise approximately $1,272,861, with the funds to be primarily utilized for exploration activities at the Company's existing USA and Brazil projects, as well as for general working capital. The proposed capital raising reflects our commitment to advancing exploration activities and underscores our dedication to unlocking the potential of our projects in under-explored geological belts with high discovery potential.

Summary of Alderan Resources' Announcement

Alderan Resources Limited (ASX: $AL8) has announced a capital raising of approximately $1.6m through a placement and non-renounceable rights issue. The funds raised will be primarily applied towards exploration activities at the Company's existing USA and Brazil projects, with a focus on Stage 1 drilling at the New Years prospect within its Cactus copper-gold project area in Utah, USA. The Company's objective is to rapidly discover, delineate, and develop critical metal and gold deposits for mining, leveraging its high-potential project portfolio in under-explored geological belts. The proposed capital raising reflects the Company's commitment to advancing exploration activities and underscores its dedication to unlocking the potential of its projects.