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Globe Metals & Mining Limited ( (AU:GBE) ) has issued an announcement.
Globe Metals & Mining Limited has announced a successful two-tranche private placement raising $8.67 million from strategic investors Avocado Trading Limited and Suitable Pioneer Limited. This funding will bolster the company’s financial position, enabling it to advance the Kanyika Niobium Project towards a Final Investment Decision and commence substantial mining operations, aligning with a recent 12-month extension under the Mining Development Agreement. The placement includes the issuance of 170 million ordinary shares and free-attaching options, with a significant portion subject to shareholder approval at the upcoming AGM.
More about Globe Metals & Mining Limited
Globe Metals & Mining Limited operates in the mining industry, focusing on the development of mineral resources. The company is primarily engaged in the exploration and development of the Kanyika Niobium Project, which aims to produce niobium, a critical metal used in various industrial applications.
Average Trading Volume: 191,503
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$50.02M
For an in-depth examination of GBE stock, go to TipRanks’ Overview page.