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Monumental Gold ( (TSE:MNRG) ) has issued an announcement.
Monumental Energy Corp. has successfully closed an oversubscribed non-brokered private placement financing, raising $810,000 through the issuance of 16,200,000 units at $0.05 per unit. The proceeds will be used to fund cost overruns on the Copper Moki 1 oil and gas well, additional workover projects with New Zealand Energy Corp. and L&M Energy, and for general corporate expenses. This financing strengthens Monumental’s financial position, enabling it to advance its energy projects and potentially enhance its market presence in the critical and clean energy sectors.
More about Monumental Gold
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sector, as well as investing in oil and gas projects. The company has interests in New Zealand Energy Corp., a call option and royalty agreement on the Copper Moki wells, and an option to acquire a 75% interest in the Laguna cesium-lithium brine project in Chile. Additionally, it holds a 2% net smelter return royalty on Summit Nanotech’s future lithium production from the Salar de Turi Project.
Average Trading Volume: 70,027
Technical Sentiment Signal: Sell
Current Market Cap: C$2.45M
See more insights into MNRG stock on TipRanks’ Stock Analysis page.