https://newsletter.en.creamermedia.com
Exploration|Gold|PROJECT|Resources|Drilling
Exploration|Gold|PROJECT|Resources|Drilling
exploration|gold|project|resources|drilling

New Murchison raises A$16.5m for Crown Prince project

20th March 2025

By: Creamer Media Reporter

     

Font size: - +

ASX-listed New Murchison Gold has secured firm commitments to raise A$16.5-million through a share placement, attracting strong support from existing and new institutional investors.

The company will issue 1.27-billion fully paid ordinary shares at A$0.13 apiece. Major shareholder Westgold Resources has subscribed for A$2.8-million in the placement, increasing its post-transaction stake to 16.22%.

"The placement was undertaken in response to strong inbound interest from institutions following our recent exploration successes and also with growing recognition of the high-quality development being delivered on at Crown Prince gold project," said New Murchison CEO Alex Passmore.

"The proceeds from the placement underpin the acceleration of project development and our exciting deeper drilling, at depth, at Crown Prince."

Crown Prince forms part of the Garden Gully gold project in Western Australia.

Funds raised will support exploration, project development, and general working capital. Following the completion of the placement, New Murchison Gold expects to hold a cash balance of about A$22.1-million, before costs.

Edited by Creamer Media Reporter

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 28 March 2025
Magazine round up | 28 March 2025
28th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.171 0.256s - 170pq - 2rq
Subscribe Now