Variscan Mines Limited (AU:VAR) has released an update.
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Variscan Mines Limited announces a fully underwritten rights issue to raise around $2.067 million, aiming to advance the Novales-Udias zinc project in Spain and broaden corporate development. The capital raised will finance drilling programs, resource estimates, a mine restart study, and general working capital. The offering has garnered significant support from the company’s major shareholder and new sophisticated investors, signaling strong market confidence in Variscan’s growth and the potential of their high-grade zinc projects.
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