Magnetic Resources NL Bolsters Gold Project Funding

Magnetic Resources NL (AU:MAU) has released an update.

Magnetic Resources NL successfully secured A$10M in oversubscribed funding to escalate the development of their Lady Julie Gold Project, with enthusiastic participation from both new and existing investors. The placement, which was facilitated by Argonaut Securities, will issue 8 million new shares at a discounted price to support further drilling and feasibility studies for the promising gold project. The company’s Managing Director expressed confidence in the project’s expansion and its potential for a financially viable, low-cost gold production.

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