Magnetic Resources NL (ASX: MAU) announced the successful completion of its AU$10 million single-tranche placement to sophisticated, professional, and institutional investors. The placement received overwhelming demand and was oversubscribed. Comprising 8 million new fully paid ordinary shares at AU$1.25 per share, this placement marks a significant milestone for the company. The company is profoundly grateful for the unwavering support of its existing shareholders and welcomes new shareholders as it forges ahead with the highly promising Lady Julie Gold Project.
The Lady Julie Gold Project in Laverton continues to expand in size. With a rising gold price, it is increasingly optimistic about the potential for financially robust, low-cost, high-margin gold production. The funds from this raising will propel it to drill for deeper resource extensions while advancing feasibility work to establish a long mine life.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
