Perpetual Resources Ltd (ASX:PEC) has raised $250,942.28 in a small raising at $0.025 each to sophisticated investors.
The company is identifying and assessing different projects in the resource sector.
It holds a 70% stake in 10 exploration licences located within the Lachlan Fold Belt, northwest of Sydney. The area contains a number of historical alluvial and hard rock gold workings.
Dakota Minerals (ASX:DKO) holds the remaining 30% interest.
Recorded production from the area and including the adjacent Hill End and Hargraves goldfields west of the project area is 4.15 million ounces.
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.