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Coolabah Metals Ltd. ( (AU:BHM) ) has shared an announcement.
Broken Hill Mines Limited has secured a binding Underwriting Agreement for the full underwriting of its BHMO Options, which were originally issued by Coolabah Metals Limited. This move ensures the company will raise approximately A$7.5 million, bolstering its financial position to advance drilling and development at its Rasp and Pinnacles Mines. The underwriting is managed by Blue Ocean Equities Pty Ltd and CPS Capital Group Ltd, who will receive a 5% fee. This financial strategy, alongside a recent US$25 million financing, strengthens Broken Hill Mines’ capacity to enhance its mining operations.
More about Coolabah Metals Ltd.
Average Trading Volume: 1,011,014
Technical Sentiment Signal: Buy
Current Market Cap: A$264.7M
Find detailed analytics on BHM stock on TipRanks’ Stock Analysis page.