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Ora Gold ( (AU:NMG) ) has issued an announcement.
New Murchison Gold Limited has successfully closed its Share Purchase Plan (SPP), raising $2.657 million through applications for 156,299,007 new shares, with a shortfall of 20,171,581 shares. This initiative allowed shareholders to purchase shares at the same price as a recent $12 million placement, supporting the development of the Crown Prince Gold Mine. The funds will be used for pre-production capital expenditure, operating costs, and corporate overheads, positioning the company for growth in the gold mining sector.
More about Ora Gold
New Murchison Gold Ltd (ASX:NMG) is a mineral exploration and development company based in Western Australia. It focuses on the Garden Gully Gold Project, which spans a 677km2 area in the Murchison goldfield, known for its multiple gold deposits, including the advanced Crown Prince Deposit. The company is progressing towards becoming a gold producer, having updated its Mineral Resource Estimate and reported a maiden Ore Reserve and Feasibility Study for the Crown Prince Deposit.
YTD Price Performance: 63.64%
Average Trading Volume: 13,975,169
Technical Sentiment Signal: Buy
Current Market Cap: A$175.5M
See more data about NMG stock on TipRanks’ Stock Analysis page.