Myanmar Metals (MYL) has completed a $20.8m equity placement (at 6.5¢/sh), which should see the Company funded through to a Financial Investment Decision (FID) on its 51% owned Bawdwin polymetallic project in Myanmar. Key uses for this funding will include; completion of a Definitive Feasibility Study (DFS), expanding Reserves and increasing Resource confidence levels as well as finalising permitting and approvals. The next 12-months see a significant de-risking of the project with increased confidence on mine design and metallurgy, along with the application of key permits to enable mining of the deposit under a majority foreign owned entity. Speculative Buy maintained.
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