Gateway Mining Limited (AU:GML) has released an update.
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Gateway Mining Limited has announced the issuance of 50 million new shares to select institutional and sophisticated investors at a price of A$0.02 per share, under a placement that was initially announced on May 29, 2024. The shares were issued without the need for a disclosure document, in accordance with the Australian Corporations Act. The company also hinted at engaging in very preliminary talks about potential asset acquisitions or disposals to enhance shareholder value, though no concrete agreements have been reached.
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