Dome Offers Shares at $0.15 to Raise $5 Million for Sigatoka Sands Project
Dome Gold Mines has announced a $5 million Share Purchase Plan at a 6.25% discount to fund critical milestones for its Sigatoka Sands Project in Fiji, aiming to secure a mining licence and commence operations.
- Share Purchase Plan to raise up to $5 million
- Shares offered at $0.15, a 6.25% discount
- Funds to secure mining licence and start Sigatoka Sands mining
- Eligible shareholders in Australia and New Zealand invited
- Excess funds to support ramp-up and other Fijian assets
Dome Gold Mines Initiates Capital Raise
Dome Gold Mines Ltd (ASX – DME) has unveiled a Share Purchase Plan (SPP) designed to raise up to $5 million by offering new shares to existing shareholders at a discounted price. This move is a strategic effort to finance the final steps required to obtain a mining licence for its flagship Sigatoka Sands Project in Fiji, as well as to kickstart mining operations.
Details of the Share Purchase Plan
The SPP offers shares at $0.15 each, representing a 6.25% discount to the recent five-day volume weighted average price on the ASX. Eligible shareholders; those registered by 7pm on 22 August 2025 with addresses in Australia or New Zealand; can subscribe for up to $30,000 worth of shares without brokerage or transaction fees. The plan opens on 27 August and closes on 12 September, with shares expected to commence trading on 24 September.
Strategic Use of Funds
The capital raised will primarily fund the completion of prerequisites for Dome’s mining licence application, a critical regulatory milestone for the Sigatoka Sands Project. Once secured, Dome plans to commence conventional sand mining and wet processing operations. Any surplus funds will be allocated to accelerating the ramp-up of mining activities, bolstering working capital, and advancing exploration and development of Dome’s other Fijian assets, including the Ono Island gold project and the Nadrau copper-gold prospect.
Context and Company Outlook
Dome Gold Mines has been active in Fiji since 2008, focusing on mineral sands, gold, copper, and iron projects. The Sigatoka Sands Project, rich in magnetite, has undergone extensive drilling and is in the final stages of a definitive feasibility study. The successful execution of this SPP and subsequent mining licence approval could mark a significant step forward in Dome’s ambition to become a major mining player in Fiji.
Market Implications
While the SPP is not underwritten and carries the usual risks associated with mining ventures and regulatory approvals, it signals Dome’s commitment to advancing its projects and unlocking shareholder value. Investors will be watching closely to see the uptake of the SPP and the progress on the mining licence, which will be pivotal for Dome’s operational and financial trajectory.
Bottom Line?
Dome’s $5 million capital raise sets the stage for critical mining licence approval and operational launch in Fiji.
Questions in the middle?
- Will Dome secure the Sigatoka Sands mining licence within the anticipated timeline?
- How will the company allocate any funds raised beyond the $5 million target?
- What impact will the SPP have on Dome’s share price and shareholder base?
