en.Wedoany.com Reported - Mt Malcolm Mines (ASX:M2M) has completed a non-renounceable rights issue, raising A$1.03 million to fund a mill study for its namesake gold project in Western Australia.

Under the rights issue, the company will issue 148.24 million shares, including 61.35 million shares from subscriptions and 86.89 million shares from the shortfall.

Mahe Capital acted as lead manager for the rights issue, with new shares issued on June 12.

The mill study aims to assess the technical and economic feasibility of constructing a 500,000-tonne-per-annum facility in the Leonora region, while advancing exploration for gold, volcanic massive sulfides, and rare earth elements at the Malcolm gold project.

Mt Malcolm Mines focuses on gold exploration in the central-eastern goldfields of Western Australia.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com