Riversgold has collected firm commitments for about $6 million (before costs) to underpin a major new phase of exploration activities on its Western Australian lithium projects.
Riversgold executive chairman, David Lenigas, said he was delighted with the support shown for the company’s exploration strategies, demonstrated by the strong interest for the capital raising.
“Riversgold is now very well-funded to aggressively continue its programs at both the Tambourah lithium project in the Pilbara and the newly acquired Mt Holland package of tenements,” he said.
“This funding puts the company in a solid fiscal position for 2023 and will enable it to accelerate its lithium targeted drilling efforts on two exciting fronts.”
Funds will be used for:
Exploration at the company’s LCT prospective projects
Continuation of exploration at the company’s other projects
General working capital.