- Resource developer Metalicity (MCT) has successfully raised $5 million for the Kookynie Gold Project
- The company saw strong support from existing and new shareholders
- Under the placement, Metalicity issued over 208 million shares at a price of 2.4 cents per share
- Funds will go towards exploration and development of Kookynie, with drilling to be ramped up significantly thanks to the support of additional rigs
- Metalicity expects the campaign to continue at the project, with around 78 holes drilled so far, and the results from 24 holes expected shortly.
- Just before market close, Metalicity is down 3.7 per cent and is trading for 2.6 cents per share
