Labyrinth Resources Limited (AU:LRL) has released an update.
Labyrinth Resources Limited is set to significantly expand its gold mining portfolio with the acquisition of the Vivien Gold Project and a 49% interest in Comet Vale, anticipating high-grade returns from the gold-rich region of Western Australia. The company has strategized to bolster its position with plans to raise $4M through a two-tranche placement and an entitlement offer, aiming to fund the acquisitions and further exploration. Their strategy hinges on leveraging existing infrastructure and consolidating high-grade gold mines to ensure long-term growth and market impact.
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