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Mt Malcolm Mines NL (ASX:M2M)

ALERT: Price-sensitive ASX Announcement for M2M
Current share price for M2M : $0.006 -0.015 (-70.73%)+
Announcement
Release
27 Oct 2025 9:34AM
Price at Release
$0.021
Full Release
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Summary
Mt Malcolm Mines NL (M2M) announced a renounceable rights issue to raise up to $2.3 million before costs, offering a one-for-two rights issue at 1.5 cents per share. With each new share, shareholders receive a free attaching option with an exercise price of 3 cents, valid for three years. The capital raised will be utilized to advance exploration and development at the Malcolm Gold Project, strengthen the company's balance sheet, and pursue growth opportunities. The rights issue, partially underwritten by Mahe Capital Pty Ltd, is open to eligible shareholders in Australia, New Zealand, Korea, and China. Managing Director Trevor Dixon demonstrates leadership support by taking up his full entitlement. The Rights Issue is priced at a 25% discount to the last closing price and a 32% discount to the 30-day VWAP.
Key Points
  • Renounceable rights issue to raise up to $2.3 million.
  • One-for-two rights issue priced at 1.5 cents per share.
  • Free attaching option with a 3-cent exercise price, valid for three years.
  • Funds to advance exploration and development at the Malcolm Gold Project.
  • Partial underwriting by Mahe Capital Pty Ltd.
  • Eligibility includes shareholders in Australia, New Zealand, Korea, and China.
  • Managing Director Trevor Dixon to take full entitlement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.