Alicanto Minerals capital raising details

Alicanto Minerals (ASX:AQI) has successfully secured commitments for a $3 million capital raising through a share placement to sophisticated and professional investors. The shares are priced at A$0.03 each, a discount to the previous day's closing price and the 15-day VWAP. Funds from this raising will be used for working capital and potential project due diligence, particularly targeting advanced gold, silver, and copper assets.

Alicanto Minerals' strategic funding and future outlook

Alicanto Minerals has announced a $3 million capital raising aimed at bolstering its financial position and enabling future project opportunities. The capital raising is structured in two tranches, with the first not requiring shareholder approval and set for settlement in December 2024, and the second requiring approval in February 2025. The funds will be used to enhance working capital and conduct due diligence on potential projects, especially in advanced mineral assets. The company is leveraging the expertise of its personnel, including the newly appointed Head of Corporate Development, to evaluate and potentially acquire valuable projects. This move aligns with Alicanto's strategic goals of expanding its portfolio in lucrative gold, silver, and copper sectors.

Executive commentary on capital raising

We are pleased to have secured this capital raising, which will allow us to pursue important project opportunities and strengthen our working capital position. The support from new and existing investors reaffirms confidence in our strategic direction as we focus on advanced gold, silver, and copper assets.