Moho Raises $2M Placement to Fund Up to 10,000m Drilling at Bush Chook

Capital Raise to Fuel Exploration Ambitions

Moho Resources Ltd (ASX – MOH) has successfully secured $2 million through a two-tranche share placement aimed at accelerating its exploration activities at the Bush Chook Project in Western Australia. The placement, priced at $0.008 per share; a modest discount to recent trading; will enable the company to embark on an aggressive program of drilling and sampling designed to unlock the project's gold potential.

The first tranche, raising approximately $1.13 million, has been completed using existing placement capacity, while the second tranche, worth around $870,000, awaits shareholder approval at the upcoming AGM. Alongside the equity raise, Moho will issue 80 million unlisted options to its corporate advisor, Templar Corporate Finance, as part of the advisory fee arrangement.

A Comprehensive Exploration Campaign

The funds will underpin a multi-faceted exploration campaign focused on delineating near-surface, mineable gold resources. Central to this effort is a planned reverse circulation (RC) drilling program targeting between 5,000 and 10,000 metres, expected to commence in November 2025 or early 2026, subject to regulatory approvals and weather conditions.

Complementing the drilling, Moho is undertaking extensive soil sampling; between 10,000 and 20,000 samples; to infill and validate over 100 historical gold anomalies exceeding 32 parts per billion, alongside six zones of high-grade rock chip results. Rock chip and stream sediment sampling will also be conducted to refine existing targets and identify new priority areas beyond known anomalies.

Early results from ongoing soil and rock chip sampling are promising, with assay outcomes from a significant 800-metre-long gold anomaly at Zone C expected imminently. These efforts are designed to sharpen drill targets and accelerate the discovery process.

Strategic Asset Divestments Bolster Financial Position

In addition to the placement proceeds, Moho anticipates deferred cash payments from recent divestments of its Empress Springs and East Sampson Dam Gold Projects. The Empress Springs sale includes a $300,000 deferred payment due in May 2026, while the East Sampson Dam transaction could yield up to $4 million, contingent on gold production milestones. This financial flexibility supports Moho’s exploration ambitions without immediate dilution.

East Sampson Dam, a high-grade gold deposit with an interim resource estimate of approximately 21,600 ounces at 2.5 grams per tonne, is progressing towards mining permit approval under its new owner, Minerals Mining Services Pty Ltd.

Looking Ahead

Moho’s methodical approach; combining rigorous sampling with targeted drilling; positions the company to potentially expand its resource base significantly. The upcoming months will be critical as assay results come in and drilling programs commence, providing fresh insights into the Bush Chook Project’s gold potential.