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DeSoto Resources Limited (ASX:DES)

ALERT: Price-sensitive ASX Announcement for DES
Current share price for DES : $0.120 -0.06 (-33.33%)+
Announcement
Release
10 Oct 2025 9:31AM
Price at Release
$0.180
Full Release
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Summary
DeSoto Resources Limited announced a strategic placement to raise A$14 million to support its maiden drilling program in the Siguiri Basin, Guinea. This funding effort was bolstered by a significant A$5 million cornerstone investment from Tony Poli, reflecting strong institutional and resource fund participation. The placement aims to enhance DeSoto's cash balance and facilitate a 10,000-meter drilling initiative at Dadjan, with subsequent efforts at the Tole and Timbakouna projects. The company, employing a systematic exploration approach proven successful at the Bankan Gold Project, is focused on capitalizing on the promising targets identified through soil sampling and auger drilling. Canaccord Genuity and Euroz Hartleys acted as joint lead managers, with commitments for a two-tranche share placement subject to shareholder approval.
Key Points
  • A$14 million raised through strategic placement.
  • Significant A$5 million investment from Tony Poli.
  • Drilling begins in Siguiri Basin, Guinea.
  • Funds to support 10,000-meter drilling at Dadjan.
  • Strong support from institutions and resource funds.
  • Placement managed by Canaccord Genuity and Euroz Hartleys.
  • Systematic exploration approach based on successful past projects.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.