Placement proceeds will fund exploration at the company’s fully-owned gold projects in WA.
A significant portion of this investment, approximately $815,000, comes from Gold Fields, a key shareholder. This contribution boosts Gold Fields’ ownership in Hamelin to around 17.7%. Additionally, Hamelin’s directors are investing roughly $100,000 in shares, showing confidence in the company’s plans. The funds will primarily support exploration at Hamelin’s fully owned gold projects in WA.
In the West Tanami region, the money will finance reverse circulation (RC) and diamond drilling at Jazz and Fremlins, as well as aircore and RC drilling at Camel, Far SW, Hutch’s, and Ginger. It will also expand Ultrafine geochemical sampling to identify new gold targets. In the Yilgarn region, the investment will support diamond drilling at the Anderson gold anomaly, follow-up RC drilling at Ularring, and initial aircore drilling at priority targets in the Venus project. Some funds will also cover general operational expenses.
The share placement to external investors utilizes Hamelin’s existing capacity under ASX Listing Rules 7.1 and 7.1A, issuing 23.02 million and 15.75 million new shares, respectively. Chieftain Securities and Cygnet Capital acted as joint lead managers for this fundraising effort. They will receive two million options, exercisable at $0.15 each within 24 months, pending shareholder approval at a meeting scheduled for May 2025.
Hamelin’s shareholders include prominent gold mining firms like Gold Fields and Vault Minerals. The company’s managing director, Peter Bewick, expressed gratitude for the support: “We greatly appreciate the ongoing support from our existing shareholders and welcome new shareholders at an exciting time for the company.” He added: “Over the next few months we will be drill testing a suite of large-scale gold targets in the West Tanami and across our Yilgarn gold projects. We look forward to providing shareholders with updates on the progress of these activities and as results are received.”
This funding strengthens Hamelin’s ability to advance its exploration goals, focusing on key gold prospects in two major regions of Western Australia. The company aims to deliver value to its investors through these targeted efforts.
