Resources & Energy Group Limited (AU:REZ) has released an update.
Resources & Energy Group Limited has secured $1.488M through a share placement to fund their East Menzies Gold Project, including support for gold vat leaching production. The capital raise includes issuing new shares at a discount and attaches free options for investors, with shareholder approval pending for additional director subscriptions. The deal, managed by Canary Capital, is part of a broader strategy to commence gold production soon, leveraging the high potential returns given the near-record gold prices.
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