Mincor Resources to raise AU$60 million to accelerate Golden Mile development, Cassini exploration

Mincor Resources NL (ASX: MCR) announced that it is undertaking a fully underwritten placement of AU$55 million and a non-underwritten share purchase plan targeting to raise an additional AU$5 million.

Together via Placement and share purchase plan, the Company aims to raise AU$60 million at a discount of 12.3% discount to the MCR’s last close, a 14.4% discount to the 5-day VWAP and a 5.1% discount to the 30-day VWAP.

The proceeds from the capital raise will be used to:

• Accelerate access development into the recently announced Golden Mile Ore Reserve at the Northern Operations.
• Accelerate underground diamond drilling at Cassini.
• Strengthen balance sheet as ramp-up activities accelerate over the remaining FY2023.

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