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The latest update is out from Lightning Minerals Ltd. ( (AU:L1M) ).
Lightning Minerals Ltd has successfully raised A$2.5 million through a placement to institutional and sophisticated investors, issuing 78,125,000 new shares at a 15.8% discount. The funds will support Phase 2 exploration at the Mt Turner Gold Project, following promising results from Phase 1, and will also be used for exploration at the Boree Creek project and lithium projects in Brazil. This capital raise positions the company to further develop its exploration strategy and potentially enhance its market position in the mining sector.
More about Lightning Minerals Ltd.
Lightning Minerals Ltd is a company operating in the mining industry, focusing on gold exploration and development. The company is primarily engaged in advancing its Mt Turner Gold Project in Queensland and the Boree Creek copper-gold porphyry project in New South Wales. It also has interests in lithium projects in the Lithium Valley region of Minas Gerais, Brazil.
Average Trading Volume: 1,221,274
Technical Sentiment Signal: Sell
Current Market Cap: A$7.57M
For an in-depth examination of L1M stock, go to TipRanks’ Overview page.