Midas Minerals Raises $28m to Accelerate Otavi Copper-Silver-Gold Drilling

Midas Minerals Limited ( (AU:MM1) ) has shared an update.

Midas Minerals has secured firm commitments to raise $28 million through a share placement at $0.75 per share, backed by new and existing institutional investors domestically and abroad. The funding is expected to lift the company’s cash balance to about $33 million, strengthening its capacity to pursue aggressive exploration and study work without immediate reliance on further capital.

Proceeds will be directed to expanded drilling and resource definition at the Otavi Copper-Silver-Gold Project in Namibia, along with initial feasibility and metallurgical test work. With multiple drill rigs already operating at the T-13 and Spaatzu prospects and plans to extend drilling to additional targets, the raise positions Midas to accelerate project de-risking and potentially advance Otavi toward development, enhancing its strategic standing in the copper and precious metals sector.

The most recent analyst rating on (AU:MM1) stock is a Buy with a A$1.35 price target. To see the full list of analyst forecasts on Midas Minerals Limited stock, see the AU:MM1 Stock Forecast page.

More about Midas Minerals Limited

Midas Minerals Limited is a junior mineral exploration company focused on copper and precious metals, with projects in Namibia, Western Australia and Canada. Its flagship asset is the high-grade Otavi Copper-Silver-Gold Project in Namibia, complemented by the South Otavi option, the Newington gold-lithium project and the Challa gold, nickel-copper-PGE project in Western Australia.

Average Trading Volume: 369,233

Technical Sentiment Signal: Buy

Current Market Cap: A$158.8M

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