InvestSMART

Megado Minerals Limited (ASX:MEG)

ALERT: Price-sensitive ASX Announcement for MEG
Current share price for MEG : $0.019 -0.001 (-5%)+
Announcement
Release
10 Apr 2026 11:33AM
Price at Release
$0.020
Full Release
download
Summary
Megado Minerals Limited announced a successful capital raise of A$1.65 million to advance their high-grade Iberian Copper Project in Northern Spain. The placement involved issuing 75 million fully paid ordinary shares at A$0.02 each, raising A$1.5 million with an additional A$150,000 from Director Placements, subject to shareholder approval. The funds will primarily support drilling activities and reconnaissance exploration at both the Iberian Copper and Alpartir Silver-Copper Projects. The Iberian Copper Project spans 12 permits, targeting historic copper mines with potential multiple high-priority drilling targets planned.
Key Points
  • Megado Minerals Limited raised A$1.65 million through placements.
  • Placement includes 75 million shares at A$0.02 per share.
  • Additional A$150,000 committed by Directors.
  • Funds to support drilling at the Iberian Copper Project.
  • Iberian Copper Project involves 12 permits covering 956 km² in Northern Spain.
  • Reconnaissance activities planned for the Alpartir Silver-Copper Project.
  • Project targets historic copper mines with high-priority drilling targets.
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.