Apollo Minerals Ltd (ASX:AON, OTC:APOMF) has received applications for more than 89 million shares in a non-renounceable pro-rata entitlements offer, subsequently raising A$1.25 million. The company intends to use the fresh funding to meet corporate and administrative costs, and to advance exploration on the #SalanieGoldProject in Gabon. AON directors have also reserved the right to place the remaining 143,014,350 entitlement offer shortfall shares totalling approximately A$2 million within three months of the offer closing date. Apollo Minerals completed the first drilling in 70 years at the Salanie Gold Project this year, testing the A1 prospect for #goldmineralisation. The company’s exploration efforts bore fruit, producing trenching results of 10.3 metres at 3.4 g/t #gold and 1.4 metres at 15.7 g/t gold. The funding from the entitlement offer will support a 2025 drilling campaign at... More at #Proactive #ProactiveInvestors #ASX http://ow.ly/MKI3105VFfJ
