Lightning Minerals CEO Troy Brice talked with Proactive about the company's recent $1.85 million capital raising and how the funds will be deployed to advance the Mt Turner Gold Project in North Queensland.
Brice explained that the placement attracted strong investor interest, with the company electing to raise a modest amount despite being able to secure additional commitments. He said the focus remains on disciplined capital allocation and delivering results that build shareholder confidence.
The funding will primarily support exploration activities at the Mt Turner Gold Project, where Lightning Minerals is preparing to start a targeted diamond drilling program. The company plans to drill five holes aimed at establishing the foundations for a future mineral resource estimate. Drilling is expected to begin later in June, with the results potentially guiding a larger exploration campaign later in the year.
Beyond gold, Brice outlined the company's broader strategy for the Mt Turner project area, including ongoing assessment of copper porphyry targets. He also discussed recent work at the company's Warby project, where historic tungsten workings were identified during field activities, adding another potential exploration opportunity to the portfolio.
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