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Metal & Mining Stocks
RTG Mining Inc. (TSX: RTG, ASX: RTG) Secures A$19.5 Million Placement for Mabilo Project Development
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Highlights
RTG Mining Inc. (TSX: RTG, ASX: RTG) has announced the completion of a placement to raise approximately A$19.5 million (around US$12.3 million). The capital will be used to support the development of its high-grade copper and gold Mabilo Project in the Philippines, as well as to fund exploration at its other projects.
As previously reported, RTG Mining has secured a Secured Financing Facility with Glencore International AG, which provides up to US$30 million for the Mabilo Project’s development. The strong institutional interest in the placement reflects confidence in the company's strategy for the Mabilo Project, which is set to include a Direct Shipping Operation to generate early cash flows.
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