Minbos Resources raises funds to accelerate works in Cabinda phosphate project

ANGOLA – Australia Stock Exchange (ASX)-listed Minbos Resources is looking to raise US$5.7 million in a share placement to sophisticated investors to fully fund the definitive feasibility study and accelerate work at its Cabinda phosphate project, in Angola. The company has received firm commitments for the placement of 91.25 million shares, priced at  7 cent each, with subscribers being offered one free option for every two shares subscribed for. The option can be exercised at a price of 15 cent each and would have an expiry date of two years.…

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Megado Gold lists on ASX with focus on Ethiopia

ETHIOPIA – Megado Gold Limited has began trading on the Australian Securities Exchange (ASX) following the completion of an initial public offering (IPO) at 20 cents per share which raised US$6 million. The company issued 30 million shares for its IPO and securities have begun trading in the range of 23.5 to 28.5 cents after opening at 25.5 cents with volume of more than 4.5 million. The company was established in March last year with a focus on building a portfolio of Ethiopian gold projects and has identified numerous high-priority…

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