Mount Burgess (ASX: MTB) Secures Firm Commitments for AUD 54.7K Placement to Fund Kihabe-Nxuu Project

April 17, 2025 01:04 PM AEST | By Aditi Sarkar

Mount Burgess (ASX: MTB) Secures Firm Commitments for AUD 54.7K Placement to Fund Kihabe-Nxuu Project — Image source: Company update

Recent News

Gabe McDaniel Releases Debut EP, 'Like We Mean It' — A Gritty, Soulful...

Southwire Named to America’s Greatest Workplaces for Women 2025 Rankin...

PotlatchDeltic Contributes to Heyburn Elementary Playground

Jake Brown Named Hypertherm Associates’ EVP, Global Sales and Marketin...

Highlights

Mount Burgess has secured AUD 54.7K funding to advance its flagship Kihabe-Nxuu Project in Botswana.

The funding will be through private placement of shares.

ASX-listed mineral exploration company Mount Burgess Mining NL (ASX:MTB) has secured firm commitments to raise AUD 54,743 through a placement to sophisticated and professional investors.

Conducted under ASX Listing Rule 7.1, the placement involves the issue of 12,165,249 fully paid ordinary shares at AUD 0.0045 per share. The placement shares are expected to be issued on or before 22 April 2025.

The proceeds from the placement will support corporate costs and metallurgical test work expenses associated with the company's ongoing development of the Kihabe-Nxuu Project in Botswana.

As of 07 March 2025, MTB has developed Indicated and Inferred Mineral Resource Estimates compliant with the 2012 JORC Code at the Kihabe and Nxuu Deposits.

Shares of MTB last traded at AUD 0.0050 on 16 April 2025.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.