HyTerra reported advancements during Q2'24, securing funding for its upcoming exploration drilling campaign through a successful placement and underwritten rights issue, raising ~A$6.1mm. The company expanded its lease holdings in the 100% owned Nemaha Project by over 30%. Post quarter, drilling operations are scheduled to commence in early Sep'24 at the Nemaha project, with Murfin Drilling Company appointed as the drilling contractor and permits received for the Sue Duroche-3 and Blythe 13-20 wells, targeting deeper formations. Additionally, Dr. Dirk Smit, former Chief Scientist of Shell, was appointed as Chief Geophysicist. The company ended the quarter with a cash balance of A$5.5mm.
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