
November 12, 2024
Metal Hawk Limited (ASX: MHK, “Metal Hawk” or the “Company”) is pleased to announce that it has received firm commitments from sophisticated investors to raise A$2.5 million (before costs) by way of placement (the “Placement”). The majority of the placement was completed by the Company’s existing major shareholders.
Highlights:
- Firm commitments received to raise $2.5 million (before costs) at $0.20 per share via a placement to existing shareholders.
- This represents a 2.5% discount to the last closing price of $0.205.
- Metal Hawk is now well-funded to advance gold exploration at Leinster South as it heads towards an extensive maiden drilling program.
Directors have agreed to subscribe for $60,000 of Placement shares, subject to shareholder approval, which will be sought at a General Meeting (GM).
Proceeds from the Placement will be used to fund gold exploration activities including the maiden drilling program at the Leinster South Project in Western Australia.
Placement Details
The Placement will comprise a total of 12,500,000 new fully paid ordinary shares (“New Shares”) at an issue price of $0.20 per New Share. 12,200,000 New Shares are to be issued pursuant to the Company’s placement capacity under ASX Listing Rules 7.1. A further 300,000 New Shares will be subscribed for by Metal Hawk Directors, William Belbin, David Pennock and Michael Edwards (or with their related entities), subject to shareholder approval.
Completion of the Placement is expected to occur on or around 18 November 2024.
The Placement issue price of A$0.20 per New Share represents; a 2.5% discount to the closing price of Metal Hawk shares of A$0.205 on 11 November 2024 (being the last trading day prior to the Placement); and a 6% premium to the 5-day VWAP prior to the Placement.
Metal Hawk Managing Director Will Belbin commented: “We are very pleased with the strong level of support from shareholders. This is a very exciting period for the Company as we work towards the maiden drilling program at Leinster South.”
Click here for the full ASX Release
This article includes content from Metal Hawk Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
MHK:AU
The Conversation (0)
02 October 2024
Metal Hawk Limited
Gold-focused exploration in Western Australia’s prolific Eastern Goldfields region
17h
Yvonne Blaszczyk: Gold, Silver, Platinum — Flashpoints Everywhere, Moves Just Starting
Yvonne Blaszczyk, president and CEO of BMG Group, discusses the factors that have pushed gold past US$4,000 per ounce and shares her next price target for the metal. In her view, US$5,000 is in the cards, and the outlook is strong for silver and platinum as well. Don't forget to follow us... Keep Reading...
13 October
Trading Halt
CuFe Limited (CUF:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
10 October
Editor's Picks: Historic Week — Gold Breaks US$4,000, Silver Takes Out All-time High
It's been yet another historic week for gold, as well as silver.Gold broke through US$4,000 per ounce midway through the period, entering never-before-seen territory as the US government shutdown continued into a second week.Silver's milestone was perhaps even more impressive. The white metal... Keep Reading...
09 October
OPINION — Past is Prologue: Why the Next Decade Could Belong to Gold and the Miners
This opinion piece was submitted to the Investing News Network (INN) by John Newell who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or... Keep Reading...
09 October
Tudor Gold Sues BC, Seabridge Over Tunnel Rights in Golden Triangle
An ongoing land-use dispute in British Columbia’s mineral-rich Golden Triangle has escalated into a full-blown legal battle as Tudor Gold (TSXV:TUD,OTC Pink:TDRRF)takes the province and rival Seabridge Gold (TSX:SEA,NYSE:SA) to court over tunneling rights linked to one of Canada’s largest... Keep Reading...
09 October
Predictive Discovery and Robex to Merge, Combining West African Gold Projects
Australia-based Predictive Discovery (ASX:PDI) and Canadian company Robex Resources (ASX:RXR,TSXV:RBX,OTC Pink:RSRBF) have agreed on a merger of equals, creating West Africa’s new mid-tier gold producer.In a joint announcement, the companies said that Predictive Discovery will indirectly acquire... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00