QMines Raises Nearly AU$8 Million via Share Placement; Shares Down 7%

MT Newswires Live

2025/09/26

QMines (ASX:QML) secured firm commitments to raise AU$7.5 million through the issue of up to 136.4 million shares at AU$0.055 apiece, according to a Friday filing with the Australian bourse.

In tranche one, 81.1 million shares will be issued, while 55.3 million shares will be issued in tranche two, subject to shareholder approval, the filing said.

Proceeds will be used to advance exploration and development at the company's Mt Mackenzie, Mt Chalmers, and Develin Creek projects, as well as loan repayment, per the filing.

Shares fell 7% in midday trade on Friday.

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