Dateline Resources (ASX:DTR) eyeing $6.25m for Colosseum – The Market Herald


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  • Dateline Resources (DTR) receives firm commitments to raise $6.25 million via equity placement
  • The money will be raised by issuing 62.5 million new shares to knowledgeable and professional investors at a price of 10 cents each
  • In addition, over 15.62 million unlisted options will be issued, exercisable at 13.5 cents and expiring no later than three years from the grant date.
  • Dateline will use the money for gold and rare earth exploration at its Colosseum project in California
  • Dateline shares are down 12.5% ​​in the market and trading at 10.5 cents at 2:01 p.m. AEST

Dateline Resources (DTR) has received firm commitments to raise $6.25 million through an equity placement.

The money will be raised by issuing 62.5 million new shares to knowledgeable and professional investors at a price of 10 cents each.

Price represents a 17% discount for Dateline’s last trading price of 12 cents on August 18.

In addition, 15,625,000 unlisted options will be issued, exercisable at 13.5 cents and expiring no later than three years after the grant date.

Dateline will use the money to continue exploration for gold and rare earths at its Colosseum project in California.

August 17, The date line revealed that a gravity survey at the Colosseum revealed a “relatively dense” unit that extends north-northwest.

This unit extends over a length of 2000 meters, has an estimated depth of approximately 150 to 250 meters and a width of between 200 and 450 meters.

Dateline is planning a drilling program to test the extent of the unit to determine if it contains rare earth element carbonatite.

Shares of Dateline fell 8.33% in the market and were trading at 11 cents at 2:01 p.m. AEST.

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