Dart Mining (ASX: DTM) has secured firm commitments from investors for a $3 million placement to fund drilling at its Triumph Gold Project in Victoria. The company will issue 600 million new fully paid ordinary shares at $0.005 per share, representing a 16.67% discount to its last closing price on 21 February 2025.
The capital raise will occur in two tranches: Tranche 1 will raise $448,542 through the immediate issue of 89.7 million shares, while Tranche 2, subject to shareholder approval in March or April, will raise the remaining $2.55 million through the issuance of 510.3 million shares. Shareholders will also vote on issuing one free option for every two new shares, with an exercise price of $0.01 and a three-year expiry, along with 110 million lead manager and broker options on the same terms.
CPS Capital Group is acting as Lead Manager, with Zerp Capital assisting in the placement. The proceeds will primarily fund diamond drilling at Triumph Gold ($2 million) and new project generation, with the remainder allocated for general working capital.
Dart Mining explores and develops gold, lithium, and base metal deposits in Victoria. The company holds a diverse portfolio of mineral tenements, including emerging gold and critical minerals projects, as it advances exploration efforts in one of Australia’s key resource regions.
