FinTechFunding

Navarre Minerals: Raises $9.5m for Mt Carlton exploration

Navarre Minerals Raises $9.5m for Mt Carlton exploration

  • Navarre Minerals (NML) is undertaking a $9.5 million equity raising, consisting of a $4.5 million placement and a $5 million share purchase plan (SPP)
  • The company plans to use the funds to accelerate exploration at its Mt Carlton United deposit in QLD following recent positive drilling results
  • Navarre expects to issue around 68.2 million new shares at a price of 6.6 cents each
  • Following completion of the placement, Navarre will offer existing shareholders to participate in its non-underwritten SPP to raise up to an extra $5 million
  • NML shares are down 15.2 per cent, trading at 6.7 cents as of 1:40 pm AEST
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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