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Western Mines Group Ltd (ASX:WMG)

ALERT: Price-sensitive ASX Announcement for WMG
Current share price for WMG : $0.155 -0.02 (-11.43%)+
Announcement
Release
6 Aug 2026 3:15PM
Price at Release
$0.175
Full Release
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Summary
Western Mines Group Ltd announced the completion of a capital raise, issuing 16,570,547 shares at $0.163 each to raise approximately A$2.7 million before costs. These funds will further exploration at the Mulga Tank Project, including seismic surveys, drilling, assays, and a scoping study. The shares were placed with institutional and sophisticated investors without requiring disclosure under Australian Corporations Act provisions. An additional 200,000 shares are expected to be issued post a shareholder meeting.
Key Points
  • Completion of capital raising via placement of ordinary fully paid shares.
  • Raised approximately A$2.7 million before costs.
  • Issued 16,570,547 placement shares; 200,000 shares pending shareholder meeting.
  • Funds to be used for exploration at Mulga Tank Ni-Co-Cu-PGE Project.
  • Exploration plans include seismic survey, drilling programs, geochemical assays, initial scoping study.
  • Shares issued to institutional and sophisticated investors without disclosure under Section 708A of the Corporations Act.
  • Compliance with provisions of Chapter 2M and Section 674 of the Corporations Act.
  • Appendix 2A Application for Quotation of Additional Securities lodged with ASX.
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.