Warriedar Resources $17M Placement to Fast Track Resource Growth at Ricciardo

THE BOURSE WHISPERER: Warriedar Resources (ASX: WA8) is set to bank $17 million after receiving firm commitments for a placement to institutional and sophisticated investors.

Warriedar Resources explained the funds will be directed towards accelerating drilling and advancement of the Ricciardo deposit at the company’s Golden Range project in Western Australia.

Warriedar has a growth-focussed drilling program using two drill rigs currently in progress at the Golden Range project, with antimony-dedicated RC drilling set to commence next month utilising a third rig.

“We are excited to be launching the fast-tracking of our core gold-antimony asset, the Ricciardo deposit at Golden Range,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“Earlier this month we delivered a maiden antimony resource at Ricciardo of over 60,000 tonnes contained antimony.

“This included Australia’s largest open-pit antimony resource of 57,000 tonnes contained antimony.

“When this is coupled with a rapidly growing existing gold resource of over one million ounces gold, it is clear why we believe Ricciardo now deserves a dedicated program to accelerate its expansion and better define its pathway to potential development and monetisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE