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Nine Mile Metals Ltd ( (TSE:NINE) ) has shared an update.
Nine Mile Metals Ltd. has closed the first tranche of its private placement financing, raising $25,000 in cash and converting $231,150 in debt. The funds will be used for general working capital, with a significant portion settling convertible loans due in December 2024. The issuance involved 12,197,619 units, each comprising one common share and one purchase warrant. The announcement indicates strategic financial maneuvers to strengthen the company’s operational liquidity, potentially enhancing its position in the critical minerals market.
More about Nine Mile Metals Ltd
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on critical minerals VMS (Cu, Pb, Zn, Ag, and Au) exploration in the Bathurst Mining Camp, New Brunswick. Its primary business objective is to explore its four VMS projects, positioning itself for the boom in EV and green technologies requiring copper, silver, lead, and zinc, with a hedge on gold.
YTD Price Performance: -33.33%
Average Trading Volume: 19,784
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $546.7K
See more data about NINE stock on TipRanks’ Stock Analysis page.
