Argonaut acted as Lead Manager to successfully raise A$20.8 million for Myanmar Metals Limited (ASX:MYL) (“Myanmar Metals” or the “Company”). The Company raised funds from Australian and international institutional and professional investors by way of a $20.8 million Placement (“Placement”) at an issue price of A$0.065 per share. The Placement was well supported by new and existing shareholders.
Myanmar Metals has confirmed that funds raised pursuant to the Placement will be applied towards funding required to advance the Bawdwin Project to a decision to mine in Q2 2020, exploration drilling costs and general working capital.
Argonaut is delighted to continue to provide support to Myanmar Metals and looks forward to our ongoing work with the Company.
Additional information regarding Myanmar Metals can be found on the Company’s website at www.myanmarmetals.com.au