Metro raising working capital ahead of expansion

BATTLING bauxite miner Metro Mining has launched a A$25.5 million fundraising comprising a $3.3 million placement and $22.2 million non-renounceable entitlement offer, with a new managing director to be appointed as part of an “orderly transition”.

Metro raising working capital ahead of expansion Metro raising working capital ahead of expansion Metro raising working capital ahead of expansion Metro raising working capital ahead of expansion Metro raising working capital ahead of expansion

Metro needs a shiploader like this to lower freight costs for its Bauxite Hills production

The pricing is at 1.6c per new share, a 64% discount to the 30-day to the VWAP of Metro shares.

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