Eagle Mountain Mining completed a $1.1 million placement by issuing 18,239,817 fully paid ordinary shares and matching options to institutional and sophisticated investors.

The move follows a shortfall from its recent renounceable entitlement offer and aims to support ongoing exploration and development projects.

The securities, priced at 6 cents each, include options exercisable at 20 cents until March 31, 2027, mirroring terms from the previous offer.

The milestone underscores Eagle Mountain's commitment to bolstering its position in the mining sector, particularly in copper-gold exploration in Arizona, USA.