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Central Iron Ore ( (TSE:CIO) ) has shared an update.
Central Iron Ore has closed an upsized non-brokered private placement, issuing 4,416,652 units at $0.072 each for gross proceeds of about $318,000. Each unit includes one ordinary share and a warrant exercisable at $0.12 until October 15, 2030, reflecting investor appetite for the company’s long-dated exploration upside.
The proceeds will fund contributions to the South Darlot joint venture, drilling at the British King Mine Area, and general working capital, bolstering the company’s ability to progress its Australian gold and iron ore exploration programs. The financing strengthens Central Iron Ore’s balance sheet and supports ongoing project advancement at a time when junior miners remain heavily reliant on equity markets for capital.
More about Central Iron Ore
Central Iron Ore Ltd. is a mineral exploration company listed on the TSX Venture Exchange, focused on advancing iron ore and related mineral assets in Australia. Its key projects include the South Darlot joint venture and the British King Mine Area, where the company is pursuing drilling and development to expand its resource base and support future production potential.
Average Trading Volume: 19,399
Technical Sentiment Signal: Buy
Current Market Cap: C$6.02M
Find detailed analytics on CIO stock on TipRanks’ Stock Analysis page.