TMK Energy Raises Funds for Gas Project Advancement

TMK Energy Limited (AU:TMK) has released an update.

TMK Energy Limited has successfully secured $1.34 million through an oversubscribed placement, attracting both new and existing sophisticated and institutional investors. Additionally, the company is gearing up for a rights issue aiming to raise about $1.9 million, which will allow eligible shareholders to invest on similar terms as the placement. These funds will be channeled into completing the expanded 2024 Work Program and advancing the commercialization of its wholly-owned Gurvantes XXXV Coal Seam Gas Project in Mongolia.

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