Navarre Minerals Limited (AU:NML) has released an update.
Navarre Minerals Limited is embarking on a mission to revitalize its position as a premier Victorian gold explorer through a recapitalization plan, relying on the support of a strong gold market. The plan includes a two-step refinancing process, initially involving a convertible debt issuance to sophisticated investors, followed by an equity issue aimed at funding two years of exploration of its Victorian projects. The company’s success hinges on satisfying various conditions, including releasing from the Deed of Company Arrangement and securing necessary approvals to resume trading on the ASX.
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