Advance Metals (ASX: AVM) Raises $2.55M to Fund Exploration in Australia and Mexico

Fri 02 May 25, 05:39 AM |

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Highlights

Advance Metals Limited (ASX: AVM) has completed a $2.55 million capital raising to support ongoing and upcoming exploration programs across its Australian and Mexican assets. The funds were secured through a single-tranche placement to institutional and sophisticated investors, with Evolution Capital acting as Lead Manager.

The placement follows high-grade gold intercepts reported from the company’s maiden drilling program at the Happy Valley Prospect within its Myrtleford Project in Victoria. Results included a notable 7.5 metres at 47.9 grams per tonne gold from drill hole AMD003, with further assays pending.

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