Resources & Energy Group Limited (ASX:REZ or the Company) is pleased to announce it has completed a placement of 68 million ordinary shares to raise $2.7 million. The placement was arranged with the assistance of Mr Omar Taheri, principal of Spark Plus, and REZ’s Chairman Mr Gavin Rezos, via Viaticus Capital. The funds were raised from sophisticated and professional investors, including Magnolia Capital who were the cornerstone of the raising.
The placement follows an investor presentation by REZ via a virtual roadshow arranged by Spark Plus to potential investors in Singapore, Hong Kong and Australia. The presentation discussed the considerable progress that REZ has announced to ASX during the 2021 calendar year, including:
- Commencement of gold production at the Menzies mine site via our joint venture with BMGS at the Granny Venn tenements;
- Exploration and assessment of the gold resources at the Granny Venn mine; and
- Recently identified reports that detailed sulphide ore deposits (VMS) on our tenements that were prepared BHP and CRA while they had interests in the region. These reports have been corroborated by multi-element assay analysis undertaken by REZ on our Springfield tenements (part of the Menzies region)1. The analysis has provided indications of green metals including Nickel, Cobalt, Chromium, Copper, Molybdenum, Zinc, Platinum and Palladium.
Read the full announcement here.
To keep up to date with their news and progress, and for more information about gold mining as a whole, subscribe to the Resources & Energy Group's Chairman's List.
