QMines Ltd. ( (AU:QML) ) has provided an announcement.
QMines Limited has successfully raised $6 million through the issuance of 85,197,743 fully paid ordinary shares at $0.045 per share. This capital raise is part of the company’s strategy to enhance its financial position and support its ongoing development projects. The announcement indicates compliance with relevant legal provisions, ensuring the shares fall within the exemption for on-sale restrictions. This financial move is expected to bolster QMines’ efforts in advancing its copper and gold projects, potentially impacting its market position and offering new opportunities for stakeholders.
More about QMines Ltd.
QMines Limited is a Queensland-focused copper and gold development company that owns 100% rights to the Mt Chalmers and Develin Creek projects. These projects are located near Rockhampton in Queensland, with Mt Chalmers being a historic high-grade mine. The company aims to make new discoveries, commercialize existing deposits, and transition towards sustainable copper and gold production.
YTD Price Performance: -6.67%
Average Trading Volume: 104,859
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €11.63M
See more data about QML stock on TipRanks’ Stock Analysis page.