Rokeby Raises $1.7M to Accelerate Hurricane Gold Exploration
Rokeby Resources has secured $1.7 million through an oversubscribed share placement to fund expanded drilling at its promising Hurricane gold and antimony project in Queensland.
- Raised $1.7 million via placement of 191 million shares at $0.009 each
- Placement oversubscribed and supported by existing and new investors
- Funds earmarked for accelerated exploration and follow-up drilling
- Focus on high-grade gold and gold/antimony targets at Hurricane Project
- Shares to be issued under existing placement capacity by August 28, 2025
Funding Boost for Hurricane Project
Rokeby Resources Limited (ASX – RKB) has successfully completed a $1.7 million capital raise through a share placement priced at $0.009 per share. The placement, which was oversubscribed, attracted strong support from both existing shareholders and new institutional and sophisticated investors. This injection of funds is set to accelerate exploration activities at the company’s Hurricane Project, located in northeastern Queensland.
Strategic Use of Capital
The capital raised will primarily support a follow-up drilling campaign targeting high-grade gold and gold/antimony mineralisation at Hurricane. The project sits within the historically productive Hodgkinson Province, a region known for its complex geology and significant gold deposits. Rokeby’s management is optimistic that the additional funding will enable the company to unlock further value by advancing exploration on both new and established targets.
Geological Potential of Hurricane
The Hurricane Project benefits from a structurally complex terrane with mineralisation typical of orogenic gold systems. The presence of gold alongside antimony and arsenic signatures aligns with globally significant deposits, suggesting strong potential for discovering new high-grade zones. Despite the region’s rich mining history, large areas within the project remain underexplored, offering Rokeby a promising opportunity to expand its resource base.
Market and Shareholder Confidence
Rokeby’s CEO Trevor Benson expressed satisfaction with the placement outcome, highlighting the confidence shown by investors. The shares issued under the placement will rank equally with existing shares and are expected to be allotted by August 28, 2025. The placement price reflects a discount to recent trading prices, a common approach to incentivise participation in capital raises while balancing shareholder value.
Looking Ahead
With fresh capital in hand, Rokeby is positioned to advance its exploration program swiftly. The coming months will be critical as drilling results emerge, potentially reshaping the company’s valuation and market perception. Investors will be watching closely for signs that the Hurricane Project can deliver on its promise of high-grade gold discoveries.
Bottom Line?
Rokeby’s $1.7 million raise sets the stage for a pivotal exploration phase that could redefine its resource potential.
Questions in the middle?
- What initial results will the upcoming drilling campaign reveal about the Hurricane Project’s grade and scale?
- How will the market respond to the dilution from the placement and the exploration progress?
- Could further capital raises be necessary if exploration results warrant expanded drilling?
