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EQUITY capital raised to fund exploration and development in “global gold hot spot” Western Australia has just ticked over A$375 million nearing the half-way point of 2020, with a significant proportion of that earmarked for the drill bit in the second half of this year and into 2021.


Business News

Explorers Kin Mining, Mindax and Bryah Resources has each launched capital raisings today, with the majority of the proceeds to advance drill programs in Western Australia.


Bryah Resources has received firm commitments to raise up to $1.55 million in a placement at 5c per share.

Hartleys is lead manager, with the funds to be used to explore for copper and gold in the Bryah Basin.


The Market Herald

  • Bryah Resources (BYH) has received binding commitments to raise $1.55 million and will use the money for its Bryah Basin Project in WA
  • Up to 31 million shares will be issued to sophisticated and professional investors at a price of five cents per share
  • Byron will use the money to undertake a combination of reverse circulation and aircore drilling at multiple prospects within the project
  • The money will also be used to locate extensions to the mineral resource at the Tumblegum South Gold Deposit and fund a downhole electromagnetic survey
  • Bryah is currently down 6.78 per cent and shares are trading for 5.5 cents each


Up to 8,000 metres of reverse circulation and aircore drilling will take place over the next six months at multiple prospects within the Bryah Basin.



Bryah Resources Ltd (ASX:BYH) has been granted a trading halt by the ASX ahead of a capital raising announcement.

The trading halt will be in place until the start of trading on Tuesday, June 16, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 5.9 cents and are up from 2 cents at close on March 31.



The Horseshoe South Manganese Mine is on a granted mining lease, allowing quick re-permitting for mining.


The Pick

The fortunate availability of a rig in the area has led Bryah Resources Limited (ASX: BYH) to successfully hit shallow, high-grade gold at its Windalah Gold-Copper Prospect within the Bryah Basin, north of Meekatharra in central Western Australia.

Managing Director, Neil Marston, said the short gold exploration drilling programme was opportunistically undertaken as a result of rig availability and was aimed to test for shallow extensions of the zones of high-grade gold mineralisation intersected by Bryah’s drilling in 2018.



Impressive assays from the short gold exploration drilling program by Bryah Resources Limited (ASX: BYH) at the Windalah prospect within its Bryah Basin manganese project in WA have confirmed Bryah Basin gold potential.

The company announced that a three-hole RC drilling program has been completed at Windalah Gold-Copper Prospect.

BYH reported best result of 12 metres @ 4.32 g/t Au from surface, including 2 metres @ 17.19 g/t Au from 3 metres from hole BBRC049.



Follow-up drilling will be required to test the extent of gold at Windalah and planning is underway to get back drilling as soon as practicable.