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Genmin Ltd. ( (AU:GEN) ) has shared an announcement.
Genmin Ltd. has successfully completed a A$25.7 million capital placement, enabling the company to emerge debt-free and advance the Baniaka iron ore project in Gabon towards a Final Investment Decision. Supported by significant financial input from its Board and management, as well as a new Letter of Intent with SHICO financing up to 60% of the project’s requirements, the company is positioned to accelerate critical project and financing workstreams, with stakeholder alignment further strengthened through notable equity conversions.
More about Genmin Ltd.
Genmin Ltd. is an emerging African iron ore producer focused on the development of the Baniaka iron ore project in Gabon. The company aims to establish the first commercial iron ore mine in the region and is committed to securing financing and advancing operations for long-term shareholder value.
Average Trading Volume: 3,486,721
Technical Sentiment Signal: Sell
Current Market Cap: A$10.19M
See more insights into GEN stock on TipRanks’ Stock Analysis page.