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QMines Ltd. ( (AU:QML) ) has provided an update.
QMines Limited has announced a Share Purchase Plan (SPP) to allow eligible shareholders to purchase shares at a discounted price of $0.055 per share, aiming to raise $1.5 million. This initiative follows a recent placement of shares to sophisticated investors, raising approximately $7.5 million. The funds from the SPP and placement will support further exploration activities at the Mt Mackenzie project and general working capital, potentially enhancing QMines’ operational capabilities and market position.
More about QMines Ltd.
QMines Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company’s primary products include gold and silver, with a significant market focus on high-grade projects such as the Mt Mackenzie gold and silver project.
Average Trading Volume: 1,320,363
Technical Sentiment Signal: Buy
Current Market Cap: A$33.19M
See more insights into QML stock on TipRanks’ Stock Analysis page.