St George Mining Secures AU$3 million Capital Raise and Progresses Araxa Project Acquisition.

St George Mining Limited (ASX: SGQ) has secured firm commitments for a capital raise of AU$3,000,000 through the placement of 150 million ordinary shares at AU$0.02 each. Investors will also receive 75 million free-attaching options (one for every two shares), exercisable at AU$0.04 within two years, subject to shareholder approval in January 2025. The funds will support working capital and exploration of the company’s current projects.

Additionally, St George is advancing its acquisition of the high-grade Araxa Niobium-REE Project in Minas Gerais, Brazil, with further capital raising planned for early 2025. The company aims to finalize this acquisition by Q1 2025.Executive Chairman John Prineas expressed gratitude for investor support and enthusiasm about the Araxa Project’s potential. This move aligns with St George’s strategic focus on expanding its portfolio in high-grade resource projects. Further updates on the acquisition will follow.

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