Alice Queen secures $3.64 million funding from Gage Capital

Alice Queen Limited (ASX: $AQX) has successfully secured a further ~$3.64 million funding from Gage Capital, subject to shareholder approval. The investment, which will see Gage move to a 51% holding in the Company, is aimed at accelerating the company's gold exploration strategies in Fiji, particularly at its Sabeto and Viani projects. The proposed transaction reflects a 60% premium to the AQX 30-day VWAP and is conditional upon shareholder approval, an Independent Experts Report, and other necessary regulatory approvals.

Gage Capital's Chairman expresses excitement about Alice Queen's potential

Mr Wang Jianying, Chairman of Gage Capital, expressed excitement about the potential for Alice Queen to develop a significant gold resource base. He highlighted the recent field trip, which led to a deeper appreciation of the exploration potential of Alice Queen, and the decision to invest further capital to enable the Company to plan and execute a more aggressive and focused exploration program. The proposed investment is seen as a strong show of support for Alice Queen's current strategy, and Gage Capital looks forward to the new opportunities that exist with such an experienced and well-credentialed partner in Gage.

Outlook for Alice Queen's exploration strategy

The successful funding from Gage Capital positions Alice Queen to rapidly advance its exploration strategies in Fiji, particularly at the Sabeto and Viani projects. The Company's immediate focus is on identifying exploration opportunities for significant near-term discovery, recommencing exploration in Fiji, and reviewing new opportunities. With the proposed investment, Alice Queen aims to complete further geological mapping and sampling at the Sabeto project, followed by recommencing exploration at the highly prospective epithermal gold project at Viani. The Company's Board of Directors strongly supports the proposed transaction and is optimistic about the potential for developing a significant gold resource base. The outlook for Alice Queen's exploration program appears promising, with the Company fully funded to pursue its exploration strategies and capitalize on the opportunities presented by the investment from Gage Capital.