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Alice Queen substantial holder Datt Capital Pty Ltd boosts stake to 9.55%

Proceeds from the company’s recent placement will be used to assess the value of the historic Run of Mine and ore stockpiles at Horn Island and to progress the review of historical exploration results in Fiji.

Alice Queen Ltd - Alice Queen substantial holder Datt Capital Pty Ltd boosts stake to 9.55%
Alice Queen has gold-copper and gold projects in the Northern Molong Volcanic Belt of NSW, Horn Island in Torres Strait and in Fiji

Alice Queen Ltd (ASX:AQX) substantial holder Datt Capital has increased its holding in the company to 9.55% from 7.73% through a series of acquisitions. 

The 9.55% stake was reached on May 21 and Melbourne-based Datt now holds 118,135,927 AQX shares in two entities.

On May 21 Datt Capital Pty Ltd acquired 15,384,615 placement shares with a total value of $200,000 and this followed the acquisition last year of 18,461,539 shares by Abadi Investments Pty Ltd with a value of $240,000.

Commitments for $1.8 million placement  

Alice Queen recently received binding commitments for a $1.8 million placement to progress gold work at its Horn Island Project in Queensland, recent Fijian acquisition and its Northern Molong Project in NSW.

The placement has been managed by Fresh Equities Pty Ltd and was strongly supported by major shareholder Datt Capital.

Proceeds will be used to assess the value of the historic run of mine and ore stockpiles at Horn Island via a planned RC drill program along with progressing the review of historical exploration results at Fiji and to start a maiden preliminary field program. 

The funds will also be used for an ongoing review of recently completed exploration programs and future planning in the Molong Volcanic belt in NSW, and for general working capital.

 

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