AIC Mines Secures $57.2M for Mining Expansion

Ai-Media Technologies Limited (AU:AIM) has released an update.

AIC Mines Limited has successfully raised $57.2 million through a placement of 110 million new shares to fund the development of the Jericho link drive, an expansion of its existing copper and gold mining operations. The shares were offered at a discounted price, with Directors of the company also participating in the placement. The capital raise signifies a substantial growth step for the Australian resource company, which is focused on expanding its portfolio through exploration, development, and acquisition.

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