Mt Monger Resources: Eyes $3m to fund maiden drilling at Pomme, Canada

Mt Monger Resources Eyes $3m to fund maiden drilling at Pomme, Canada

• Mt Monger Resources (MTM) taps investors for $3 million to fund the first round of drilling at its recently-purchased Pomme project in Quebec, Canada
• The company plans to raise the money through the issue of 30 million shares to professional and sophisticated investors at 10 cents per share
• In addition to funding exploration at the Pomme REE and niobium project, the fresh capital is also set towards exploration in Western Australia
• The raise will be completed in two tranches, the second of which is subject to shareholder approval to be sought at a meeting in the coming weeks
• MTM shares are up 40.5 per cent, trading at 15 cents at 2:41 pm AEDT