Arrow Minerals Limited (AU:AMD) has released an update.
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Arrow Minerals Limited has successfully raised $13 million through two placements to fund its Simandou North Iron Project, where the company has taken full ownership of Amalgamated Minerals Pte. Ltd. The promising drilling campaign kicked off 2024 with positive signs of iron mineralization and plans to ramp up drilling with five rigs by April’s end. In parallel, a significant rail and port system development by neighboring consortia enhances the project’s infrastructure prospects.
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