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HomeBusinessGalena Mining: Raises $12M to advance Abra

Galena Mining: Raises $12M to advance Abra

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Galena Mining: Raises $12M to advance Abra

  • Galena Mining (G1A) has accepted binding commitments for a $12 million placement to advance the Abra Base Metals Project
  • Over 57 million new shares will issued at 21 cents each
  • Galena is the majority owner of the project, which is located in the Gascoyne region of WA
  • The placement highly supported, especially by the company’s largest shareholder, Timothy Andrew Roberts, who subscribed for more than 11 million shares
  • Galena Mining will use most of the funds to conduct drilling and optimisation works at the Abra Base Metals Project before it begins underground mining
  • Company shares closed 6.25 per cent in the red to trade for 22.5 cents each

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