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QMines Ltd. ( (AU:QML) ) has shared an announcement.
QMines Ltd. has successfully raised $7.5 million through a well-supported placement, enabling the company to accelerate its exploration and development activities at its Mt Mackenzie, Mt Chalmers, and Develin Creek projects. The funds will be used for a large drilling program at Mt Mackenzie, debt repayment, and purchasing additional land to mitigate risks for future mining operations, highlighting the company’s growth strategy and the quality of its projects.
More about QMines Ltd.
QMines Ltd. operates in the mining industry, focusing on the exploration and development of gold, silver, copper, and zinc projects. The company is primarily engaged in projects at Mt Mackenzie, Mt Chalmers, and Develin Creek, with a market focus on expanding its high-grade mineral deposits.
Average Trading Volume: 1,251,560
Technical Sentiment Signal: Buy
Current Market Cap: A$33.52M
Learn more about QML stock on TipRanks’ Stock Analysis page.