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Metal Bank Limited (ASX:MBK)

ALERT: Price-sensitive ASX Announcement for MBK
Current share price for MBK : $0.013 0 (0%)+
Announcement
Release
21 May 2026 9:00AM
Price at Release
$0.013
Full Release
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Summary
Metal Bank Limited announced securing $1.2 million through a strategic placement agreement involving 70,588,235 shares at $0.017 each, marking a 30% premium over the previous closing price. The funds will be used to advance the Seven Leaders deposit and the Homestead/Winja deposits in Western Australia. The company anticipates receiving the funds by 15 June 2026. This placement will result in a new total of 911,857,863 shares, and highlights the company's focus on progressing its gold projects in the region.
Key Points
  • MBK entered into agreements for 70,588,235 new shares at $0.017 per share.
  • The placement raised $1.2 million from new strategic investors.
  • Funds will be used for the Seven Leaders deposit and Homestead/Winja deposits.
  • Placement price was a 30% premium to the previous closing price.
  • Funds expected by 15 June 2026.
  • Capital structure post-placement: 911,857,863 shares.
  • Projects focus on gold in Western Australia.
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.