BMG Resources Limited (AU:BMG) has released an update.
BMG Resources Limited has successfully raised $500,000 through a share placement, issuing 50 million shares at $0.01 each to professional investors, to fund its ongoing operations. The company is exploring various avenues for its wholly-owned Abercromby Gold Project in Western Australia, which has a reported maiden resource of 670,000 ounces of gold, including the possibility of a sale, mine development, or partnership. Preliminary studies are underway to evaluate the viability of both open pit and underground mining at the site.
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