Bindi Metals (ASX:BIM) agreed to acquire the Lisa antimony-gold project and the Mutnica antimony-copper project in Serbia from Edelweiss Mineral Exploration, according to a Thursday filing with the Australian Securities Exchange.
Additionally, the company is set to raise AU$2 million via the placing of 25 million shares priced at AU$0.08 apiece. About 7.1 million shares will be issued in tranche 1, and 17.9 million shares will be issued in tranche 2, which is conditional on shareholder approval, the filing said.
Proceeds will be used for exploration at the Lisa and Mutnica projects, other existing projects, and general working capital, according to the filing.
CPS Capital Group and Taurus Capital were the joint lead managers for the placement.
Bindi Metals shares surged 26% in recent trade.
Price (AUD): $0.10, Change: $+0.020, Percent Change: +25.64%
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