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MAX Resource ( (TSE:MAX) ) has shared an announcement.
Max Resource Corp. announced a private placement for its Australian subsidiary, Max Iron Brazil Ltd., raising AUD$2,126,400 through the issuance of ordinary shares. The proceeds will be used for the Florália DSO Hematite Project in Brazil and general working capital. The company retains an 81% stake in the subsidiary, and the funds support ongoing drilling programs, potentially enhancing their market position in the mining sector.
More about MAX Resource
Max Resource Corp. is involved in the mining industry, focusing on copper and iron ore projects. The company operates the Sierra Azul Project in the Colombian section of the Andean copper belt and has an Earn-In Agreement with Freeport-McMoRan Exploration Corporation, allowing Freeport to earn a significant ownership stake by funding exploration expenditures.
YTD Price Performance: -16.67%
Average Trading Volume: 134,479
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$8.99M
Find detailed analytics on MAX stock on TipRanks’ Stock Analysis page.
