St Barbara tips money into another junior

MID-tier gold producer St Barbara has taken a 10% stake in Tanami explorer ABM Resources

St Barbara tips money into another junior St Barbara tips money into another junior St Barbara tips money into another junior St Barbara tips money into another junior St Barbara tips money into another junior

Sunset over ABM Resources' ground

ABM secured commitments for a A$6 million private placement at 10c per share, a 26.6% premium to ABM's last closing price of 7.9c.

St Barbara will chip in $4.4 million, giving the miner around 10% of ABM.

The company already holds 16% stakes in Victorian gold explorer Catalyst Metals and Cobar Basin explorer Peel Mining.

St Barbara joins fellow mid-tier Independence Group as a substantial shareholder in ABM.

IGO holds around 9% currently and is in a joint venture with ABM at Lake Mackay.

"Having two successful exploration and mining companies, such as St Barbara and IGO, support ABM is a clear confirmation of the quality of ABM's exploration team, strategy and portfolio of high-quality gold and base metal projects," ABM managing director Matt B...

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