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Strong support for Carnaby’s A$20m placement

24th April 2023

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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Copper/gold company Carnaby has received strong support for its A$20-million placement, the proceeds of which will be used to accelerate exploration initiatives across its portfolio.

The non-underwritten placement comprises 16.4-million new fully paid ordinary shares from institutional and sophisticated investors at an offer price of A$1.22 a share.

“We are very pleased to have received such strong demand for the placement and to welcome a number of new high-quality institutional and sophisticated investors onto our share register. The investment from new and existing institutional shareholders is a further validation of the potential of the Mount Hope discovery, as well as the wider Greater Duchess copper/gold project,” said MD Rob Watkins.

Carnaby’s focus at Greater Duchess, in Mount Isa, Queensland, is on a maiden mineral resource estimate, with more than 40 000 m of drilling and extensive geophysical surveys planned.

Carnaby intersected 36 m at 4.2% copper at the Greater Duchess project.

Edited by Creamer Media Reporter

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