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FireFly Metals Ltd. — Capital/Financing Update 2017
Sep 10, 2017
48548_rns_2017-09-10_52cabf8f-6b14-452f-a14f-a8d210692700.pdf
Capital/Financing Update
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Exploration Office Level 3, 100 Pirie Street ADELAIDE SA 5000
Tel: +61 8 8232 8320 Fax: +61 8 8232 8811
ABN: 96 110 336 733
www.monaxmining.com.au
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11 September 2017
Placement to fund exploration at Western Queen Gold Project
HIGHLIGHTS
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Placement to existing sophisticated investors to fund maiden drill programs at newly-acquired Western Queen Gold Project
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Drilling to test the potential to discover high-grade underground gold resources below existing deposits
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Anticipated gold resource estimate during the December 2017 quarter
Monax Mining Limited ( Monax or the Company ) wishes to advise the market it has received firm commitments from existing sophisticated shareholders for a placement of 111,594,444 fully paid ordinary shares, to raise gross funds totalling $502,175. The issue price for the private placement is $0.45 cents per share.
Proceeds raised will be used to fund the Company’s maiden drilling program at the recently acquired Western Queen Gold Project, WA.
The program will include infill and extensional drill holes at both the Western Queen and Western Queen South deposits to confirm and extend the known high grade shoots.
For further information, please contact:
Ian Gordon Duncan Gordon Director Investor Relations Monax Mining Ltd Adelaide Equity Partners Ltd P: 0477 306 669 P: 0404 006 444 E: [email protected] E: [email protected]