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ITech Minerals LTD ( (AU:ITM) ) has issued an announcement.
iTech Minerals Ltd successfully raised $2 million through a placement of 40 million new shares, supported by institutional and existing investors. The funds will be used for exploration activities at the Reynolds Range Project, targeting antimony and gold prospects. Additionally, a Share Purchase Plan (SPP) will be offered to eligible shareholders to raise up to $1 million, further supporting the company’s exploration initiatives. This financial boost is expected to enhance iTech’s exploration capabilities, potentially leading to significant discoveries in the mineral-rich region, thereby strengthening its position in the mining sector.
More about ITech Minerals LTD
iTech Minerals Ltd (ASX: ITM) operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in the exploration of antimony and gold, with a significant project located in the Reynolds Range in the Northern Territory, Australia.
Average Trading Volume: 1,124,419
Technical Sentiment Signal: Buy
See more data about ITM stock on TipRanks’ Stock Analysis page.