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Ausmon Resources banks $200k for gold, silver, copper hunt in New South Wales

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Ausmon Resources (ASX: AOA) has raised $200,000 via private placement of 20 million shares at $0.01 to progress exploration at its gold, silver and copper projects in the Lachlan Fold Belt, New South Wales.

Rarely, Ausmon has resolved that none of the funds raised are to be applied for payment of past and present directors’ fees.

The company also has gold, silver and uranium interests in the Northern Territory, and 5.75 million shares in Premium Exploration Inc. (TSX-V: PEM) valued at around $1 million.

Premium’s portfolio includes one of the largest land packages in Idaho, USA, including a gold inferred resource of 531,890 ounces, a platinum group metals exploration project in Montana, and a past-producing silver project in Mexico.

The cash injection boosts funds available to $500,000, while the company is capitalised at a very light $900,000.

Shares in the company last traded at $0.01, and another private placement for $300,000 conducted late last year was priced at $0.03.

 

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Quick facts: Ausmon Resources Ltd

Price: 0.002 AUD

ASX:AOA
Market: ASX
Market Cap: $1.22 m
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