Apollo Minerals will raise $3.4 million through a placement supported by a diverse group investors.
Funds raised through the issuance of approximately 136 million new fully paid ordinary shares at $0.025 per share will primarily be directed towards accelerating exploration programs at the Salanie Gold Project in Gabon, Africa.
The funds will also explore the company’s other projects and general working capital purposes.
The placement will facilitate an early maiden drill program at Salanie in the first quarter of 2024.