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Blackstone Minerals Ltd ( (AU:BSX) ) has shared an update.
Blackstone Minerals Ltd has successfully raised $22.6 million through a placement of shares to sophisticated and institutional investors, following its merger with IDM International Limited. The funds will be used for an extensive exploration program at the Mankayan Copper-Gold Project, including 50,000 meters of diamond drilling, geophysics, and other fieldwork. This capital raising, which was oversubscribed and supported by major investors like Macquarie Bank, positions Blackstone to capitalize on the high demand for copper and gold, especially in a market characterized by tight copper supply and record gold prices.
More about Blackstone Minerals Ltd
Blackstone Minerals Ltd is a company operating in the mining industry, focusing on the exploration and development of mineral resources. Its primary focus is on the Mankayan Copper-Gold Project located in the mineral-rich northern Philippines.
Average Trading Volume: 1,404,020
Technical Sentiment Signal: Buy
Current Market Cap: A$124M
For a thorough assessment of BSX stock, go to TipRanks’ Stock Analysis page.