Podium Minerals Limited (ASX:POD) announced that the Resource drilling in Parks Reef is scheduled to commence in July to expand and enhance current Mineral Resources which stand at 1.14Moz 3E PGM plus 37kt Copper. The objectives of the drilling programme are:
- Define a continuous 6.1km long resource block in the western half of Parks Reef
- Increase the extent of total resources to a combined length of 8.5km
Also, the Company is about to finalise the $1m capital raising via a $500k share placement and a further $500k Share Purchase Plan (SPP) offered to present shareholders. POD looks forward to utilising proceeds from capital raising to advance the work programmes with resource drilling expected to commence with availability of a drill rig presently being finalised.
Post announcement, POD stock was up by 5.556% (AEST 12:47 PM) and trading at a price of $0.019.
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