Metalicity Limited (AU:MCT) has released an update.
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Metalicity Limited has secured a $1 million funding through a placement to sophisticated investors, including a $120,000 commitment from the company’s directors, aimed at fast-tracking exploration and drilling at the promising Yundamindra Gold Project. The project has shown potential for a large gold deposit with historical drilling results being validated and significant mineralization remaining open for exploration. The funds will also support the company’s plans for a 10:1 consolidation of securities, pending shareholder approval.
For further insights into AU:MCT stock, check out TipRanks’ Stock Analysis page.