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HomeBusinessMarmota: Raises $6.5M for Aurora Tank

Marmota: Raises $6.5M for Aurora Tank

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Marmota: Raises $6.5M for Aurora Tank

  • Marmota (MEU) has raised $6.5M for its Aurora Tank gold discovery in South Australia
  • The company issued over 122M shares for 5.3 cents per share to institutional and sophisticated investors
  • Then the placement had strong demand and oversubscribed within hours of opening on Friday morning
  • Marmota delighted with the interest shown in the company by investors,” Chairman Dr Colin Rose said
  • Marmota is aiming to commence its largest-ever reverse circulation drilling program at Aurora by next week
  • On market close, Marmota is down 12.7 per cent, while shares are trading for 5.5 cents per share

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