A$27.5M Placement to Complete PFS and Extensive Drilling
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| Stock | Many Peaks Minerals Ltd (MPK.ASX) |
|---|---|
| Release Time | 22 May 2026, 9:13 a.m. |
| Price Sensitive | Yes |
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Many Peaks Minerals Secures $27.5M for Ferké Gold Project Expansion
Key Points
- $27.5M placement completed to fund Ferké Gold Project
- Funds will be used for drilling, resource expansion, and pre-feasibility study
- Directors subscribed for $800,000, subject to shareholder approval
- Placement price at 3.2% discount to last close price
- Strong support from new and existing institutional investors
Full Summary
Many Peaks Minerals Limited (ASX: MPK) has completed a A$27.5 million equity raise from new and existing institutional, professional, and sophisticated investors. The funds will be used for various activities, including drilling to expand and improve confidence in the existing mineral resource estimate at the Ferké Gold Project, completion of a pre-feasibility study, and exploration at other projects. Directors have subscribed for $800,000, pending shareholder approval. The placement price was at a 3.2% discount to the last close price and 10.7% discount to the 15-day VWAP. The company received strong support from new and existing institutional investors.
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