Genmin Ltd. (AU:GEN) has released an update.
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Genmin Limited, an emerging African iron ore producer, has successfully completed the first tranche of its placement, issuing 170 million new shares at A$0.05 each to raise A$8.5 million. The funds will support the development of its flagship Baniaka project in Gabon, with commercial production expected to commence in the second half of 2025. Approval from Genmin shareholders and the Foreign Investment Review Board is pending for the second tranche.
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