Cauldron Energy’s capital raising initiative has been a resounding success, with applications received for 180,418,788 new shares totalling $1,623,769.09.
Following a necessary scale-back, 158,594,777 new shares were allotted, raising a substantial $1.427 million.
This figure represents the maximum take-up, with participants also receiving one free attaching option for every three shares subscribed, further bolstering investor engagement and confidence in Cauldron Energy’s future.
In a significant development, Cauldron Energy has welcomed Parle Investments Pty Ltd as a new substantial shareholder.
Parle, known for its savvy investment strategies in the uranium sector, has acquired an 11.55 per cent stake in the company, signalling strong support for Cauldron Energy’s uranium-centric focus and its strategic plans for the future.
Cauldron Energy is also on the cusp of completing a comprehensive scoping study for the Yanrey Uranium Project.
This pivotal document will outline the project’s current status, including a significant indicated mineral resource, and will chart a course for upcoming pre-feasibility studies.
Further bolstering its project portfolio, Cauldron Energy has received program of work approval for an upcoming drilling program at the Melrose Ni-Cu-PGE Project in Dalwallinu, Western Australia.
The technical team is diligently finalising plans for the drilling program, set to commence in December 2023.
The program aims to investigate historical geochemical nickel anomalies and targets identified from recent electromagnetic surveys.