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Midas Minerals Limited ( (AU:MM1) ) has issued an announcement.
Midas Minerals Limited has secured firm commitments for an $11.5 million placement to fund the acquisition and exploration of the Otavi Copper Project in Namibia. The placement received strong support from institutional shareholders and will enable Midas to accelerate exploration activities, including a 3,000-meter drill program at South Otavi. This strategic move positions Midas to enhance its exploration capabilities and potentially increase its market presence in the copper mining sector.
More about Midas Minerals Limited
Midas Minerals Limited is a junior mineral exploration company focused on copper and precious metals. The company has a track record of delivering value through mineral discoveries and mine development, with projects in Western Australia and Canada. Midas is acquiring the Otavi Copper Project in Namibia and has an option to earn an interest in the South Otavi project.
Average Trading Volume: 201,120
Technical Sentiment Signal: Buy
Current Market Cap: A$68.33M
See more data about MM1 stock on TipRanks’ Stock Analysis page.