Metalicity Raises $3.65m for Kookynie drilling
- Metalicity (MCT) is raising $3.65 million through a fully underwritten rights issue
- Eligible participants will also receive one free-attaching option for every three shares subscribed for which are exercisable at one cent each within two years
- The money is being used for drilling at the Kookynie gold project in WA and will focus on new targets and potential extensions as well as the Mulga Plum and Wandin prospects
- Subject to finalising a contract and securing approvals, drilling at Mulga Plum and Wandin is expected to commence shortly
- MCT shares have ended the day 14.3 per cent in the red and closed at 0.6 cents
