QMines raises $5.5M for Queensland project
Pontos principais
- QMines received firm commitments to raise $5.5 million via a share placement to advance its Mt Chalmers Project.
- Shares were offered at $0.052 each.
- The proceeds strengthen the company's capital reserves to support feasibility studies, exploration, and land acquisitions.
QMines (ASX:QML) has received firm commitments to raise $5.5 million before costs through a share placement to fund development activities.
The issue price of $0.052 each, representing a 13.3% discount to the last traded price of $0.06 per share before the placement.
QMines stated that the raised capital strengthens its total cash position to approximately $17.5 million when combined with existing reserves and deferred asset sale proceeds.
Following the announcement, the QMines share price was unchanged at $0.053.
The company also announced plans to offer eligible investors a share purchase plan to raise up to an additional $1 million at $0.05 per share.
Proceeds will be directed towards advancing the Mt Chalmers definitive feasibility study, exploration drilling campaigns, and strategic freehold land acquisitions.
