Cauldron Energy Raises $750k for continued drilling at Blackwood project
- Cauldron Energy (CXU) emerges from a trading halt revealing plans for a $750,000 placement
- Over-subscriptions were received for the placement which comprises over 44 million new fully paid ordinary shares issued at 1.7 cents each
- With the fresh capital Cauldron says it is able to advance exploration at its gold, uranium and sand gold projects
- In particular, most of the funds will go towards completion of drilling at the company’s Blackwood gold project in Victoria
- Shares resumed trade today, dropping 9.5 per cent to 1.9 cents
