- Moho Resources (MOH) aims to raise nearly $800,000 for its East Sampson gold prospect, within its Silver Swan North Project in WA
- The company will issue around 12 million shares at a price of 6.5¢ per share
- Moho will conduct a scoping study at the prospect
- Funds will also be used to explore Moho’s Empress Springs Project in Queensland
- Moho is down 13.1 per cent on the market today, selling shares for 7.3¢ each
Moho Resources (MOH) aims to raise $797,316 for its East Sampson gold prospect.
The company will issue around 12 million shares at a price of 6.5¢ per share. This share price is a discount of 22 per cent of the last trading price.
The funds raised from the placement will be used to advance its East Sampson gold prospect at its Silver Swan North Project in Western Australia. The company aims to complete a scoping study at the prospect.
Silver Swan is located 50 kilometres northeast of the regional mining centre of Kalgoorlie. Moho believes Silver Swan is considerably under-explored and highly prospective for the discovery of both nickel and gold mineralisation.
Moho will also explore its Empress Springs Project in Queensland.
RM Capital are the lead managers for the Placement and will receive a Success Fee of $20,000, as well as a lead manager and placement fee of six per cent.
Moho is down 13.1 per cent on the market today, selling shares for 7.3¢ each at 12:32 pm AEST.