Caprice Resources (ASX:CRS) has secured $12.7 million through an oversubscribed share placement to accelerate its gold exploration activities in Western Australia’s Murchison region.
The capital raising involved the issuance of approximately 159.3 million new shares at $0.08 each, backed by a diverse group of domestic and international institutional investors.
The company’s directors have committed $240,000 to the placement, pending shareholder approval at a forthcoming extraordinary general meeting.
Following the settlement, Caprice will be in a robust financial position with approximately $15 million in total cash reserves.
At the Murchison Gold Projects, the company is focusing on the Island Gold, Comet, and Cuddingwarra sites using a combination of reverse circulation, aircore, and diamond drilling.
An upsized 10,000-metre RC drilling program is already underway at Island Gold, with initial assays anticipated within six weeks.
Investors can expect a steady flow of news, with results from five diamond holes at Vadrians and 91 aircore reconnaissance holes expected within the next month.
Beyond the Murchison, Caprice plans to utilise the new capital for geophysical surveys at the West Arunta Chobe Project to identify fresh drill targets.
The funding allows the company to transition into a high-intensity exploration phase, increasing the scale of its technical programs and testing the extensional potential of known high-grade gold mineralisation.