Cauldron Energy Raises $1.2m for project work
- Cauldron Energy (CXU) receives firm commitments to undertake a $1.2 million placement
- A total of 35,294,118 new fully-paid ordinary shares will be issued to sophisticated and professional investors at 3.4 cents
- Participants will also receive one free attaching option for every two shares subscribed for, exercisable at five cents with expiry on November 30, 2023
- Once received, Cauldron will use the funds to undertake seismic work at its Yanrey Uranium Project in Western Australia
- The money will also go towards identifying potential extensions of the Bennett Well Uranium Deposit and complete exploration at its Blackwood Gold Project
- Shares in Cauldron are down 9.76 per cent on the market and are trading at 3.7 cents at 11:39 am AEST
