Kingfisher Mining Announces $2.25M Placement for Exploration
Key points
- Placement to raise $2.25M at $0.075 per share.
- Funds for Copper Blow and Broken Hill projects.
- One free option for every three shares subscribed.
Full summary
Kingfisher Mining Limited (ASX: KFM) announced a firm commitment to raise approximately $2.25 million through a two-tranche placement of 30 million new shares at $0.075 per share. The placement includes a 5.6% premium over the 15-day VWAP and offers one free attaching option for every three shares subscribed. The funds will advance exploration activities at the Copper Blow Project and the broader Broken Hill project portfolio. The placement has received strong support from existing shareholders and new investors.
Guidance
Placement to raise approximately $2.25 million before costs.
Outlook
The company aims to advance exploration at Copper Blow and identify new opportunities across the Broken Hill region.
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