Yandal Resources secures funding

Yandal Resources (ASX:YRL) has entered an underwriting agreement with Blackpeak Capital Pty Ltd for options expiring on 31 October 2024. The agreement is set to raise up to $5.5 million before costs, aimed at advancing exploration activities at the Siona, Irulan, and Caladan prospects.

Yandal Resources' strategic financial move

Yandal Resources has strategically partnered with Blackpeak Capital Pty Ltd to underwrite the exercise of options, potentially raising $5.5 million. The funds will accelerate exploration at the Siona, Irulan, and Caladan prospects. The underwriting covers up to 20,541,088 options at $0.24 each, with Blackpeak Capital responsible for any unexercised options. The company has already received $0.56 million through valid option exercises, with the underwritten amount expected to add approximately $4.93 million. This proactive funding approach reflects Yandal Resources' dedication to its exploration ambitions and shareholder value enhancement. The company continues to comply with ASX regulations, ensuring a seamless execution of this financial strategy.

Executive commentary on underwriting agreement

Yandal Resources is committed to advancing exploration activities at our key prospects. The funds secured through this underwriting agreement will significantly bolster our efforts in the Siona, Irulan, and Caladan regions.