Manhattan Gold raises A$3m to accelerate Hook Lake drilling in Canada

The latest update is out from Manhattan Corporation ( (AU:MHC) ).

Manhattan Gold Corporation has raised A$3 million through an oversubscribed share placement at A$0.024 per share, representing a discount to its last traded price. The funding was strongly supported by existing shareholders, Manhattan directors and new domestic and international institutional investors, including a cornerstone commitment of more than A$1.5 million.

The proceeds will fund an April 2026 drill campaign at the Hook Lake High Grade Gold and Polymetallic Project in Nunavut, covering camp establishment and RC and diamond drilling at the Jaws and Spectre prospects, with remaining funds going to working capital. The capital injection underpins Manhattan’s plans to accelerate exploration at Hook Lake, potentially enhancing the project’s resource definition and strengthening the company’s position in the high-grade gold and polymetallic exploration space.

The most recent analyst rating on (AU:MHC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Manhattan Corporation stock, see the AU:MHC Stock Forecast page.

More about Manhattan Corporation

Manhattan Gold Corporation is an Australia-based mineral exploration company listed on the ASX, focusing on high-grade gold and polymetallic projects. Its key asset is the Hook Lake project in Nunavut, Canada, which targets orogenic gold at the Jaws prospect and volcanogenic massive sulphide mineralisation with copper, zinc, gold and silver at the Spectre prospect.

Average Trading Volume: 960,831

Technical Sentiment Signal: Sell

Current Market Cap: A$15.73M

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