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Bid : 3,084.16/oz
Ask : 3,093.42/oz
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Ask: 36.93/oz
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Gold
Bid : 3,084.16/oz
Ask : 3,093.42/oz
Silver
Bid : 36.82/oz
Ask: 36.93/oz
Platinum
Bid: 1,369.13/oz
Ask : 1,404.73/oz
Refresh in 00:00

With a “transformational” $10.1 million investment from a new large shareholder, Australian Gold and Copper prices surged

September 25, 2023

Australian gold and copper explorer AGC revealed a “transformational” million-dollar investment from Hong Kong-based mining group Delin will fast-track its flagship NSW project.

AGC inked a $10.1 million share placement agreement to issue over 122 million new shares to Delin at a substantial premium. Upon completion, Delin will hold a dominant 55% stake in AGC. The funds received significantly surpass AGC’s current market cap, evidencing Delin’s strong conviction in the potential of AGC’s portfolio.

Chairman David Richardson welcomed Delin as a new major partner, emphasizing the value the investment provides shareholders given high industry costs. The premium accepted reflects Delin’s view of AGC’s drill-ready South Cobar targets including Hilltop, to be tested immediately.

Additional exploration capital will accelerate Achilles and Planet targets while advancing AGC’s other regional prospects. Delin Chairman Zhang Yong said the strategic move looks to foster cooperation between Australia and Southeast Asia within mining.

Zhang’s appointment to AGC’s board on placement completion signals Delin’s support driving the explorer’s advancement. With study approvals secured, the cashed-up company is well-placed to unlock South Cobar’s mineral endowment through its imminent maiden campaign. Institutional backing at this scale sets the stage for an exciting new phase of value creation.

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