Encounter Resources Limited (AU:ENR) has released an update.
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Encounter Resources Limited raises A$15 million through an institutional placement to boost drilling and exploration at its promising niobium discoveries in Western Australia’s West Arunta region. The move is seen as a strong endorsement of the company’s recent exploration successes, with additional funds set to propel further resource definition and development studies. Existing shareholders are also invited to participate in a share purchase plan, potentially raising an additional A$3 million.
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