Myanmar fundraising oversubscribed

INVESTORS have thrown money at the Myanmar Metals, which has closed a heavily oversubscribed placement, enabling it to close a A$35 million capital raising and pay its option price to secure a 51% stake in the Bawdwin project, Myanmar.

Myanmar fundraising oversubscribed Myanmar fundraising oversubscribed Myanmar fundraising oversubscribed Myanmar fundraising oversubscribed Myanmar fundraising oversubscribed
MYL already had $19.1 million in binding commitments from cornerstone investors Mark Creasy's Yandal Investments and new backer Perilya, but was seeking $35 million, and likely could have raised much more given reports of significant demand from a wide range of new domestic and international institutions and existing key shareholders.
 
Just two days ago it had "easily" raised the minimum $25 million required.
 
It has now completed the bookbuild for the raising at 6c, and as testament to investor belief in Bawdwin the shares soared almost 20% in morning trade to 8.2c at the time of writing.
 
Executive chairman John Lamb said MYL's tier one polymetallic project in a strategically advantageous lo...

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