Mt Malcolm Mines (ASX:M2M) has placed the balance of the shortfall from its non-renounceable rights issue, raising an additional $769,773.
The company will issue an additional 109.97 million shares, following the non-renounceable rights issue completed last week that raised $1.03 million.
The new shares will be issued today (19 June).
Mahe Capital acted as lead manager for the rights issue, as reported by Mining.com.au on 12 June.
Funding will be deployed to undertake a processing plant study to determine the feasibility of constructing a 500,000-tonne-per-annum facility at Leonora and continue advancing gold, volcanic-hosted massive sulphide, and rare earth element exploration targets at the Malcolm Gold Project.
Mt Malcolm Mines is focused on gold exploration in the central eastern Goldfields of Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Mt Malcolm Mines
