Metalicity Limited (ASX: MCT) has successfully secured AU$1.4 million through a placement of 700 million new fully paid ordinary shares at AU$0.002 per Share, accompanied by 1 for 2 free attaching options exercisable at AU$0.003 with a 2-year expiry. These commitments involve AU$1.03 million from sophisticated investors and an additional AU$370,000 from the Company's Directors.
The proceeds will be employed to fast-track exploration activities at the Kookynie Gold Project after a recent agreement with a joint venture partner to increase Metalicity's interest to 80%. Several exploration targets, encompassing greenfield and brownfield prospects, have been reviewed based on insights from geophysical consultant partners. These efforts align with Metalicity's strategy of targeting structurally hosted gold mineralization. Notable initial drilling targets include the area north of McTavish, which has delivered substantial gold intercepts.
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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.
