FinTechFunding

Argonaut Resources: Raises $2.7M for copper exploration

  • Argonaut Resources (ARE) has successfully completed its share placement and raised $2.7 million
  • 491.6 million fully paid ordinary shares will now issued to professional, sophisticated, and institutional investors at 0.55 cents each
  • Shares will settle on September 30, and allocated and begin trading on the ASX on October 2
  • Argonaut will also be undertaking a share purchase plan to raise an additional $1.2 million which will open on September 25 and close on October 16
  • The company will also use the money to undertake drilling at the Murdie copper project and restart metallurgical testwork on the Nyungu copper-cobalt deposit
  • Argonaut has ended the day with no change and shares trading for 0.7 cents each
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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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