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Exploration|Gold|Mining
Exploration|Gold|Mining
exploration|gold|mining

Matador overshoots SPP target

8th December 2023

By: Creamer Media Reporter

     

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The share purchase plan (SPP) of ASX-listed Matador Mining has been well supported, with applications received totalling A$4.1-million, exceeding the company’s initial SPP target raise of A$1.5-million.

Given the strong demand from shareholders, the board has resolved to accept a total sum of A$3.7-million from the SPP process.

“The SPP offered a tremendous opportunity for shareholders to purchase shares at the same purchase price as our recently oversubscribed capital raising. Between these two processes, we have successfully raised about $9.5-million representing about 70% of our market capitalisation at the time the financing was announced at the end of October 2023,” said MD and CEO Sam Pazuki.

Matador focuses on gold discoveries in Newfoundland, a destination the company sees as one of the few final frontiers of new tier-one mining jurisdictions globally.

The company is finalising its 2024 exploration programme, which will include fieldwork in as many of the months of the calendar year as possible, said Pazuki.  

Edited by Creamer Media Reporter

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