Mitre Mining Secures Funding for Silver Exploration

Mitre Mining Corporation Limited (AU:ASL) has released an update.

Mitre Mining Corporation Limited recently secured A$25 million in funding through a placement to institutional and sophisticated investors at a discounted share price, aimed at ramping up exploration and resource growth at the Cerro Bayo Silver Project. The placement was strongly backed by both existing and new international investors, with substantial oversubscription. The proceeds from the placement will finance expanded drilling operations, with up to four rigs targeting both new and existing sites, and support the company’s planned mineral resource update in the coming year.

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