Marquee Resources to raise $3.2M for acquisition
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- Marquee Resources has entered into an agreement to acquire 100% of the Tungsten Mountain Property in Nevada.
- The company launched a capital raise of up to $3.2 million to fund the transaction.
- The acquisition aims to advance exploration at a brownfields site with historical production.
Marquee Resources (ASX:MQR) has agreed to acquire the Tungsten Mountain Property alongside a capital raise of up to $3.2 million.
The transaction introduces a brownfields exploration project with historical production to the company's portfolio.
The project comprises six unpatented lode mining claims covering the historic Tungsten Mountain Mine in Nevada.
Marquee secured firm commitments to raise $2.2 million through a share placement.
The company plans to raise an additional $1 million through a pro-rata non-renounceable entitlement offer.
Following the announcement, the Marquee share price was unchanged at $0.005.
The company stated that the project holds a historical resource estimate of 250,000 tonnes.
