Red Mountain Mining Ltd (AU:RMX) has released an update.
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Red Mountain Mining Ltd has successfully completed a share placement, raising $400,000 for its maiden gold exploration program at Fry Lake, Ontario, Canada. The placement, backed by both existing and new investors, will fund the company’s imminent exploration activities, including an initial sampling program at the gold-rich ‘Flicka Lake’ site. The company is also considering a capital structure consolidation and continues to evaluate new ventures to enhance shareholder value.
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