Macarthur Minerals (ASX:MIO) closes $6.25M placement

Mining

ASX:MIO MCAP $76.09M26 October 2020 10:45

• Macarthur Minerals (MIO) has closed its previously announced placement, securing subscriptions for almost $6.25 million
• The company issued a total of 11,362,618 units at $0.55 each, comprised of one share and one share purchase warrant
• Each warrant will be exercisable at a price of $0.90 per share for a period of 24 months
• The proceeds will be used to advance a feasibility study for the Lake Giles Iron Project in Western Australia, while discussions for a main round of project financing progress
• Shares in Macarthur Minerals are steady at Monday's open, worth 60 cents per share

Read the full story on The Market Herald here: https://themarketherald.com.au/macarthur-minerals-asxmio-closes-6-25m-placement-2020-10-26/