07 June 2024
07 June 2024
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For this placement, the company will issue around 1.27 billion new shares at A$0.03 per share.
The acquisition positions Caprice as the owner of the fourth-largest landholding in the region.
The deal further increases the total area of the project to 1,651 hectares (ha) and positions the company for further exploration.
To exercise this option, Firetail has to pay A$500,000 ($333,000), issue 175 million ordinary shares and also complete 10km of drilling.
A pre-feasibility study (PFS) detailing the restart plan is due to be released in early 2025.
Under the exploitation contract, Ecuadorian Government is guaranteed at least 50% of the cumulative discounted benefits from Cascabel.
The company secured firm commitments for a two-tranche placement of 23,636,364 new shares at A$0.22 each.
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