FireFly Metals Increases Share Purchase Plan to AU$8 Million Due to Oversubscriptions; Shares Up 3%

MT Newswires Live

Oct 25, 2024

FireFly Metals (ASX:FFM) increased the size of its share purchase plan to AU$8 million from AU$5 million due to strong demand, according to a Friday filing with the Australian bourse.

Applications received totaled roughly AU$27.7 million, leading to a scale-back, the filing said.

The company issued about 8.4 million new fully paid ordinary shares today. Shares will begin trading on Oct. 28, the filing added.

FireFly Metals' combined funds raised from the share purchase plan and the completed placement now total AU$73 million, which will be used to support exploration and development activities Green Bay copper-gold project in Canada, as per the filing.

The mineral explorer's shares were up 3% in recent trade.

Price (AUD): $1.09, Change: $+0.035, Percent Change: +3.32%

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