Dundas Minerals has raised $1.1 million through a discounted share placement to fund ongoing gold exploration in Western Australia, alongside appointing a new Company Secretary to strengthen corporate governance.
- Raised $1.1 million via 46.7 million shares at $0.024 each
- Placement priced at 20% discount to last traded share price
- Funds earmarked for gold projects in Kalgoorlie and Gerry Well regions
- Second tranche of shares subject to shareholder approval at 2025 AGM
- New Company Secretary Aida Tabakovic appointed, replacing Mr Volk
Capital Raise to Accelerate Exploration
Dundas Minerals Limited (ASX – DUN) has announced a $1.1 million capital raise through a share placement priced at 2.4 cents per share, representing a 20% discount to the last traded price. The raise involves issuing 46.7 million new shares in two tranches, with the first tranche already allotted and the second tranche pending shareholder approval at the upcoming 2025 Annual General Meeting.
The funds will primarily support ongoing gold exploration activities across Dundas’ Western Australian projects, including the Kalgoorlie region and the recently secured Gerry Well greenstone belt near Wiluna. These regions are known for their gold potential, with Dundas holding interests in projects such as Windanya and Baden-Powell, which have inferred gold resources totaling nearly 50,000 ounces.
Strategic Focus on Western Australian Gold
The placement underscores Dundas’ commitment to advancing its exploration pipeline in gold-rich terrains. The company aims to leverage the fresh capital to not only continue drilling and resource definition but also to evaluate new opportunities within its extensive tenement holdings. This move comes amid a broader industry focus on Western Australia’s prolific gold belts, which continue to attract investor interest due to their resource potential and stable mining jurisdiction.
Corporate Governance and Leadership Update
Alongside the capital raise, Dundas announced a key change in its corporate governance team. Company Secretary Mr Volk has resigned, with Ms Aida Tabakovic appointed as his successor. Ms Tabakovic brings over 15 years of experience in corporate accounting, reporting, and compliance, including extensive work with ASX-listed companies. Her appointment is expected to enhance Dundas’ regulatory communications and governance practices as the company scales its operations.
The combination of fresh capital and strengthened corporate oversight positions Dundas to pursue its exploration objectives with renewed vigor. However, the final tranche of shares remains subject to shareholder approval, which will be a critical milestone to watch in the coming months.
Looking Ahead
Investors will be keen to see how Dundas deploys the new funds and whether exploration results can translate into resource upgrades or new discoveries. The company’s ability to navigate the regulatory process smoothly with its new Company Secretary will also be under scrutiny as it seeks to maintain market confidence.
Bottom Line?
Dundas’ $1.1 million raise and governance refresh set the stage for a pivotal year in its Western Australian gold ventures.
Questions in the middle?
- Will the shareholder meeting approve the second tranche of the placement?
- What are the timelines and targets for exploration activities funded by this raise?
- How will the new Company Secretary influence Dundas’ compliance and investor relations?