Bardoc Gold de-risks pathway to gold production by raising $24 million

Bardoc Gold Ltd (ASX:BDC) has substantially de-risked its pathway to gold production at its namesake project near Kalgoorlie in Western Australia by completing a "transformational" $24 million institutional capital raising.

The share placement, which was strongly supported by Tier-1 Australian and global institutions and strategic investors, underpins the final leg of BDC's transition to development and construction at its flagship 3.02 million-ounce Bardoc Gold Project.

As such, it will assist in definitive feasibility study (DFS) completion, final engineering and accelerated development and exploration.*Well-funded*

The proceeds will increase Bardoc's cash reserves to in excess of $35 million, allowing the company to advance its gold development strategy to the next level.

Chief executive officer Robert Ryan said the high level of demand from institutional investors for the placement reflected the strong appetite for advanced, high-quality gold assets in Australia at a time of continued record strength in the gold market.