DES - Desoto Resources

[System]

DeSoto Resources Limited is a precious and battery-metal exploration Company with a 1,887km2 landholding located in the Northern Territory’s prolific Pine Creek gold and pegmatite province.

The Company's projects lie in the Northern Territory’s Pine Creek Orogen, with reported resources of over 17 million ounces of gold, following initial discovery from a hole dug during construction of the overland telegraph line in the 1870’s.

A number of development projects are well advanced towards potential production in the Pine Creek Orogen, including a high-grade underground project at Toms Gully, the 9-million-ounce Mount Todd gold project near Katherine, and the polymetallic Hayes Creek project.

It is anticipated that DES will list on the ASX during December 2022.

Home - DeSoto Resources

DeSoto Resources - Experienced Discovery Board & Management Team Targeting Rare Earths, Copper, and Gold in the Northern Territory’s Rich Mineral Landscape

desotoresources.com

 

[Dona Ferentes]

Listing date	16 December 2022 ; 1:30 PM AEDT ##
Company contact details	https://desotoresources.com/ Ph: +61 08 6149 7516
Principal Activities	Mineral exploration
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	DES
Capital to be Raised	$12,000,000
Expected offer close date	10 November 2022
Underwriter	Not underwritten. PAC Partners Securities Pty Ltd and DealAccess Pty Ltd (Joint Lead Manager).

 

[Dona Ferentes]

not much on DES. still got >$5M in cash. Still focusing on Pine Creek NT area

During the reporting period the Company announced the acquisition of the Spectrum Project, strategically located within DeSoto’s existing Fenton Gold Project, a high-grade Rare Earth Element Project with the potential to host a significant multi-commodity deposit. In addition, the company actively pursued various high-priority manganese opportunities, with these initiatives currently in progress.