Placement
Filed with ASX · · 1 page · English
Summary by 6ix AI
Metals Australia Ltd has completed a private placement to fund drilling and exploration at the Lac Rainy Graphite Project in Quebec. The placement raised funds through the issuance of fully paid ordinary shares and will also grant options to subscribers, pending shareholder approval. The company plans to commence diamond drilling shortly, aiming to establish a maiden JORC resource and gather more data on the deposit's characteristics. The funds will specifically be used to accelerate the diamond drilling program at the project.
Written by 6ix AI from the company’s filing. How 6ix writes summaries
On 6ix: 6ix.com/news/placement-105
Story so far
Earlier from Metals Australia
- Update on Timing of Dilling at Lac Rainy Graphite Project
- Lac Rainy Graphite Project Fully Permitted for Drilling
- Extensive Wide Zones of High-Grade Graphite at Lac Rainy
- Lac Rainy Phase 1 - High-grade assay results
- Exploration Update
Later from Metals Australia
- Drilling Equipment & Crews Mobilised to Lac Rainy Project
- Non-Renounceable Issue
- Diamond Drilling Underway at Lac Rainy Graphite Project
- Diamond Drilling Update at Lac Rainy Graphite Project
- Further Drilling Intersects Near Surface High Grade Graphite
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