Metals X to Subscribe for 34 Million Shares in Tanami Gold Capital Raising; Shares Reach All-Time High
MT Newswires Live
May 08
Metals X (ASX:MLX) will subscribe for 34.4 million shares for a consideration of AU$2.1 million in the AU$70.5 million capital raising by Tanami Gold (ASX:TAM) through a fully underwritten one-for-one renounceable entitlement offer of new shares at AU$0.06 apiece, according to a Friday filing with the Australian bourse.
The subscription will maintain the company's interest in Tanami Gold at 2.93% of the expanded issued capital, the filing said.
Metals X shares rose nearly 2% in morning trade Friday and earlier reached an all-time high. Meanwhile, Tanami Gold shares fell 15%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.