Superior Resources Limited (AU:SPQ) has released an update.
Superior Resources Limited has announced a capital raise through a 1 for 14 non-renounceable entitlement offer to fund additional drilling at their Steam Engine Gold Project, aiming to expand the current 196,000oz gold resource. The effort includes a 7,000m drilling program and reevaluation of the 2021 Scoping Study, with assays and updates on the project’s progress expected in the coming weeks. The raise is also set to support exploration at the Bottletree Copper Prospect and general company working capital.
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