Musgrave Raises $6 Million For Accelerating Drilling At High-Grade Starlight New Gold Discovery

  • Apr 27, 2020 AEST
  • Team Kalkine

Australian Explorer, Musgrave Minerals Limited (ASX: MGV), via placement of ~57 million shares at an issue price of 10.5c cents, has received firm commitments to raise $6 million. The share placement to corporate, institutional and sophisticated investors was oversubscribed with the addition of several new institutional investors along with the existing investors.

The funds raised would be used for advancing the drilling of the new Starlight gold discovery at Break of Day deposit and for other gold targets at Cue project along with general working capital purposes. 

With the placement, Musgrave will be positioned with $8.4 million cash balance.

MGV stock soared ~8.7% to $0.125 on 27 April 2020 (12:59 PM AEST).

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK