Ora Gold Ltd. ( (AU:NMG) ) has provided an announcement.
New Murchison Gold Limited has successfully secured $16.5 million through a placement of new shares to institutional and sophisticated investors, including significant resources-focused funds. The funding will support the company’s exploration and development activities at the Crown Prince Gold Project, with production expected in the second half of 2025. The placement was notably supported by the company’s largest shareholder, Westgold Resources Ltd, which subscribed for $2.8 million, increasing its stake to 16.22%.
More about Ora Gold Ltd.
New Murchison Gold Limited operates in the gold mining industry, focusing on exploration and development projects. Its primary project is the Crown Prince Gold Project, and the company is listed on the Australian Securities Exchange under the code NMG.
Average Trading Volume: 112,500
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €81.96M
For an in-depth examination of NMG stock, go to TipRanks’ Stock Analysis page.