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Gold Mountain Limited ( (AU:GMN) ) just unveiled an announcement.
Gold Mountain Limited has successfully closed the institutional component of its accelerated pro rata renounceable entitlement offer, raising approximately $852,000 through the subscription of around 426 million shares. The retail component of the offer is set to open on 11 April 2025 and close on 5 May 2025, with further details provided in the forthcoming Prospectus. This development marks a significant step in the company’s financing strategy, potentially enhancing its capacity to advance its exploration projects in Brazil and PNG.
More about Gold Mountain Limited
Gold Mountain Limited (ASX:GMN) is a mineral exploration company with a focus on rare earth elements (REE) and niobium. The company operates in Brazil and Papua New Guinea (PNG), exploring a diverse range of tenements for lithium, nickel, copper, and gold. In Brazil, Gold Mountain holds significant REE and REE-niobium licenses in Bahia and Minas Gerais, as well as lithium projects in the eastern Brazilian lithium belt. In PNG, the company is advancing the Green River Project, which has shown promise with high-grade mineral samples.
Technical Sentiment Signal: Buy
Current Market Cap: A$9.16M
See more data about GMN stock on TipRanks’ Stock Analysis page.
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