Narryer Metals (ASX:NYM) secured commitments to raise AU$650,000 through the issue of 26 million shares at an issue price of AU$0.025 per share, according to a Monday filing with the Australian Securities Exchange.
The funds raised will be used for working capital and business development, and follow-up drilling of the Rocky Gully carbonatite targets. The first stage of drilling will involve an aircore program, followed by reverse circulation drilling, the filing said.
Shares fell 14% in midday trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments