- Metal Hawk (MHK) to raise $2.4 million to speed up drilling at its Berehaven nickel project, near Kalgoorlie in Western Australia
- The company is issuing over 5.3 million shares at 45 cents each, an 8.2 per cent discount to its last trading price
- Following the placement, Metal Hawk will have a cash balance of about $5.5 million
- On the market this morning, Metal Hawk is up 4.08 per cent and trading at 51 cents
Metal Hawk (MHK) aims to raise $2.4 million to speed up drilling at its Berehaven nickel project, near Kalgoorlie in Western Australia.
The company will issue new and existing institutional and sophisticated investors with over 5.3 million shares at 45 cents each, an 8.2 per cent discount to its last trading price.
Following the placement, Metal Hawk will have a cash balance of about $5.5 million.
Metal Hawl will use the funds from the raise for diamond drilling at Berehaven, where it recently found high-grade massive sulphides at the Commodore prospect.
Managing Director Will Belbin was pleased with the level of support Metal Hawk has received for the drilling at Commodore.
“We look forward to following up the successful maiden reverse circulation campaign with deeper diamond drilling and downhole electromagnetics to get a better grasp on the project’s true potential,” he said.
On the market this morning, Metal Hawk was up 4.08 per cent to trade at 51 cents per share at 10:37 am AEDT.