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Mt Malcolm Mines NL ( (AU:M2M) ) has provided an update.
Mt Malcolm Mines NL has successfully completed a renounceable rights issue, raising $2.3 million, which was strongly oversubscribed, indicating strong shareholder and investor confidence. In response to additional demand, the company will proceed with a follow-on placement to raise an additional $750,000, bringing the total raised to over $3 million. The funds will be used to accelerate exploration and drilling programs at the Malcolm Gold Project, advance mining studies, and strengthen the company’s financial position. This capital raising positions Mt Malcolm Mines to aggressively pursue its growth and exploration strategies, with the support of both existing and new investors.
More about Mt Malcolm Mines NL
Mt Malcolm Mines NL operates in the mining industry, focusing on gold exploration and development. The company is dedicated to advancing its gold projects, particularly the Malcolm Gold Project, and aims to expand its known gold resources while targeting new high-priority prospects.
Average Trading Volume: 855,415
Technical Sentiment Signal: Sell
Current Market Cap: A$6.52M
Find detailed analytics on M2M stock on TipRanks’ Stock Analysis page.