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Mako completes share placement

30th August 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Mako Gold has completed the second tranche of its oversubscribed share placement, raising A$10-million in capital.

The company in July this year announced plans for the capital raise, under which it would issue 125-million shares, at a price of 8c each.

The first tranche consisted of 64.3-million shares, and raised A$5.1-million, while the second tranche consisted of 60.68-million shares, raising $4.9-million. The second tranche shares were placed following shareholder approval.

“The completion of the second tranche of the A$10-million capital raise gives the company a clear runway to execute our aggressive exploration strategy,” said MD Peter Ledwige.

“The board of directors have approved up to 45 000 m of drilling, which gives the company the green light to continue drilling on the Napie project and to commence a maiden drilling programme on the Korhogo project. Due to the recent outstanding results received on the Tchaga prospect, the company will extend the expected date of its maiden mineral resource estimate as it continues to expand the footprint at the Tchaga prospect.”

Edited by Creamer Media Reporter

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