What is the story about?
What's Happening?
Rokeby Resources has successfully completed an oversubscribed $1.7 million placement, attracting new institutional investors. This funding will support the company's exploration activities at the Hurricane Project in Northern Queensland. The project has already seen the completion of a maiden drilling campaign, consisting of 25 reverse circulation holes. The company is now awaiting assay results, expected in September, which will inform the next phase of drilling. Trevor Benson, CEO of Rokeby Resources, is leading the company's efforts to unlock the gold potential in the region, with early drilling and surface work indicating promising prospects.
Why It's Important?
The successful funding round is a significant milestone for Rokeby Resources, enabling the company to advance its exploration efforts at the Hurricane Project. This development is crucial for the company's growth and could potentially lead to significant gold discoveries, impacting the mining industry in Queensland. The involvement of new institutional investors also reflects confidence in Rokeby's strategy and the project's potential. As the company progresses, the results of the drilling campaign will be closely monitored by stakeholders, including investors and industry analysts, as they could influence future investment and development decisions.
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