Chalice fills the cup with $30 million

May 14, 2020 | News

Pictured: Chalice Executive Chairman Tim Goyder

Tim Goyder will sell about 20% of his holding in Chalice Gold Mines Ltd (ASX:CHN) to “facilitate meaningful investment from several parties”.

Goyder’s 10 million shares will be sold at $1.05/share, as major institutional and sophisticated investors back Chalice’s $30 million raising for drilling at the Julimar nickel-copper-PGE project, near Perth.

RC and diamond drilling to test the full extent of the 1.6km long x 0.7km wide mineralised system ahead of a potential maiden resource, while preliminary metallurgical testwork, initial mining, processing, environmental and economic scoping studies are also part of the plan.

Chalice reported that firm commitments in excess of $75 million were received for the raise, such is the excitement right now at Julimar.

“The company is now in an even stronger financial position and, while I have sold a small part of my holding, I am very excited by the potential of our projects and I remain fully committed to the company,” Chalice executive chairman Tim Goyder.