The company managed to raise $2.6 million to explore its Cashmere Downs acreage in the central Yilgarn Craton region, 115km outside of Sandstone in Western Australia.
Tuart has also acquired the Yilgangi gold mine, north-east of Kalgoorlie, and will be exploring the eastern flank of the Gawler Craton covering a portion of the Stuart Shelf in South Australia.
Former exploration success for Tuart includes the discovery of gold close to the Vivien deposit, 60km north-east of Leonara, WA, which subsequently became part of the Wiluna mining complex.
The initial prospectus lodged with the Australian Securities and Investments Commission sought to raise $3 million through the issue of 15 million shares at 20c.
