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African Energy Metals ( (TSE:MGMA) ) has shared an update.
Magma Silver Corp. announced the successful closing of the second tranche of its non-brokered private placement, raising CAD $597,850. The funds will be used for work programs on the Niñobamba project in Peru and general working capital. The issuance involved related party transactions but was exempt from certain regulatory requirements due to the small percentage of market capitalization involved. This move strengthens Magma Silver’s financial position, allowing it to further its exploration activities in the supportive mining environment of Peru.
More about African Energy Metals
Magma Silver Corp. is a natural resource company focused on the acquisition, exploration, development, and operation of precious metal mining exploration projects. The company’s primary focus is on exploring and developing the advanced Niñobamba silver gold project in Peru.
Average Trading Volume: 67,348
Technical Sentiment Signal: Hold
Current Market Cap: C$4.62M
For detailed information about MGMA stock, go to TipRanks’ Stock Analysis page.