Moho Resources announces a placement to advance nickel sulphide & rare earths exploration

Moho Resources Limited (ASX: MOH) announced that it had received firm commitments from institutional and sophisticated investors to raise AU$1,245,973 through a placement. The placement includes the issue of approx. 41,532,440 fully paid ordinary shares at AU$0.03 per new share. The issue price indicates a 17% discount to the last traded price & a 12% discount to the fifteen-day VWAP.

Proceeds from the placement will be used to fund the exploration activities at the company’s project, including the Black Swan South follow-up nickel sulphide drill campaign, Dukes prospect native title clearance and first pass nickel sulphide drill campaign, drilling campaign of Burracoppin Rare Earths targets and for the general working capital requirement.

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