DeSoto Resources to Raise AU$14 Million via Placement; Shares Rise 11%

MT Newswires Live

2025/10/10

DeSoto Resources (ASX:DES) has received firm commitments to raise AU$14 million via a placement of about 46.7 million shares at AU$0.16 per share, to sophisticated, institutional, and professional investors, according to a Friday filing with the Australian bourse.

Proceeds will be used to fund drilling, exploration, soil sampling at the company's projects, corporate costs, and for general working capital, the filing said.

The new shares are expected to settle on Nov. 27, the filing added.

Shares of the company rose 11% in recent Friday trade.

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