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Kogi Iron Ltd. ( (AU:M4M) ) has issued an update.
Macro Metals Limited has completed the final tranche of its strategic placement with Paramount Earthmoving Pty Ltd, receiving a cash injection of approximately $1 million. This transaction increases Paramount’s stake in Macro Metals to 9.32% of the company’s issued capital. The funds from this placement, along with a previous capital raise, position Macro Metals to continue its business plan and commence revenue generation from mining services within the year. The collaboration with Paramount is expected to accelerate the company’s growth, leveraging the strengths of both parties.
More about Kogi Iron Ltd.
Macro Metals Limited is a diversified mining and mining services company focused on delivering shareholder value through the economic development of natural resource assets. The company owns a portfolio of iron ore and manganese assets undergoing active exploration, aiming for future production opportunities. Additionally, through its subsidiary Macro Mining Services, it provides bespoke mining services across various commodity groups, covering the entire supply chain from mining to shipping.
Technical Sentiment Signal: Sell
Current Market Cap: A$33.76M
Learn more about M4M stock on TipRanks’ Stock Analysis page.