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Evolution Energy Minerals Limited ( (AU:EV1) ) has provided an announcement.
Evolution Energy Minerals Ltd announced that its recent rights issue, aimed at raising $1.5 million, closed significantly oversubscribed, raising $1.45 million before costs. To address the excess demand, the company will conduct a top-up placement of $300,000, bringing the total funds raised to $1.75 million. The proceeds will support the development of the Chilalo Graphite Project, exploration of the Chikundo Copper Prospect, and cover general working capital and creditor payments. This successful capital raising reflects strong support from both existing shareholders and new investors, indicating confidence in the company’s strategic projects and future growth potential.
More about Evolution Energy Minerals Limited
Evolution Energy Minerals Ltd is a company operating in the energy sector, focusing on the development of mineral resources. Its primary products include graphite and copper, with significant projects like the Chilalo Graphite Project and the Chikundo Copper Prospect.
Average Trading Volume: 773,925
Technical Sentiment Signal: Sell
Current Market Cap: A$6.6M
For an in-depth examination of EV1 stock, go to TipRanks’ Overview page.