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Mitre Mining Corporation Limited (ASX:MMC)

ALERT: Price-sensitive ASX Announcement for MMC
Current share price for MMC : $0.985 0.49 (98.99%)+
Announcement
Release
2 May 2024 9:36AM
Price at Release
$0.495
Full Release
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Summary
Mitre Mining Corporation Limited (MMC) announced a highly successful capital raising to accelerate resource growth, with the funds to be primarily used for exploration and drilling activities. The placement was well supported by institutional and sophisticated investors, reflecting strong confidence in the company's strategy and the potential of its Hill End Gold Project. The raised capital is expected to fast-track the company's resource definition and expansion programs, support ongoing studies, and advance project development. The company emphasized the significance of this funding in underpinning its plans for resource growth, and reiterated its commitment to delivering value to shareholders through systematic exploration and development of its key assets.
Key Points
  • Mitre Mining Corporation Limited conducted a highly successful capital raise.
  • Funds raised will be used to accelerate resource growth, primarily through exploration and drilling.
  • The placement saw strong support from institutional and sophisticated investors.
  • Proceeds will fast-track resource definition and expansion at the Hill End Gold Project.
  • Funds will also support ongoing studies and project development activities.
  • The capital raise underpins MMC’s strategy to deliver value to shareholders.
  • The company is focused on systematic exploration and development of its key assets.
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.