Midas Minerals Raises $28m to Advance Otavi Copper-Silver-Gold Exploration

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

Midas Minerals Limited has raised approximately $28 million through the issue of 37,333,334 fully paid ordinary shares at $0.75 each under a placement conducted pursuant to ASX Listing Rules 7.1 and 7.1A. The shares were issued without a prospectus under section 708A of the Corporations Act, with the company confirming its ongoing compliance with financial reporting and continuous disclosure obligations and stating there is no excluded information that must be disclosed.

The capital raising strengthens Midas Minerals’ funding position as it continues exploration and drilling at its Otavi Copper-Silver-Gold project in Namibia. The company is awaiting assay results from its current drilling campaign and plans to release the data once fully collated and interpreted in line with its disclosure and reporting requirements, an update that could influence investor views on the project’s exploration upside.

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 an ASX-listed mineral exploration company focused on discovering and developing copper, silver, and gold resources. The company is currently advancing its Otavi Copper-Silver-Gold project in Namibia, where it is running ongoing exploration and drilling programs aimed at defining the project’s resource potential and future development options.

Average Trading Volume: 371,195

Technical Sentiment Signal: Buy

Current Market Cap: A$158.8M

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