FinTechFunding

Metalicity: Raises $5M to extend drilling at Kookynie

  • Resource developer Metalicity (MCT) has successfully raised $5 million for the Kookynie Gold Project
  • The company saw strong support from existing and new shareholders
  • Under the placement, Metalicity issued over 208 million shares at a price of 2.4 cents per share
  • Funds will go towards exploration and development of Kookynie, with drilling to be ramped up significantly thanks to the support of additional rigs
  • Metalicity expects the campaign to continue at the project, with around 78 holes drilled so far, and the results from 24 holes expected shortly.
  • Just before market close, Metalicity is down 3.7 per cent and is trading for 2.6 cents per share
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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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