Kopore Metals (ASX:KMT) aims to raise $3 million for exploration activities – The Market Herald

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  • Kopore Metals (KMT) launches a placement to raise $3 million for the exploration and development of its projects as well as working capital
  • The company will issue 90.9 million new shares at a price of 3.3 cents each, a 13.2% discount to the last closing price.
  • KMT has received firm commitments from new and existing shareholders, including domestic and overseas institutional investors
  • Most of the funds will be directed to the Agadez uranium project in Niger
  • Shares were trading up 8.11% today at 4 cents apiece at 11:08 a.m. AEST

Kopore Metals (KMT) has launched a placement to raise $3 million for the exploration and development of its projects as well as working capital.

The company will issue 90.9 million new shares at a price of 3.3 cents each, a 13.2% discount to the last closing price.

The majority of shares will be issued within the company’s investment capacity, with 1.5 million shares subject to shareholder approval.

KMT has received firm commitments from new and existing shareholders, including domestic and overseas institutional investors.

Most of the funds will be directed to its Agadez uranium project in Niger.

Managing Director Caroline Keats said she was pleased with the placement.

“With the exploration program set to begin in early June 2022 with a 5,500 meter drill program at Agadez, we expect a steady flow of information over the coming months as we continue to unlock the value of the project. Agadez for our shareholders,” she said. said.

The shares were trading up 8.11% today at 4 cents apiece at 11:08 a.m. AEST.

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