Chilwa Minerals Ltd (AU:CHW) has released an update.
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Chilwa Minerals Limited has secured A$6 million through a private placement and plans to offer an additional share purchase plan (SPP) targeting A$0.5 million to accelerate their multi-commodity Chilwa Project in Malawi. This capital injection, supported by directors and major shareholder Mota Engil, through its subsidiary Luso Global Mining BV, aims to double drilling schedules, expedite minerology results, and manage corporate costs. The funds will also enable the purchase of an Assay Laboratory to increase the turnaround times for minerology results.
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