Top Price Market
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Top Price Market

Investing

FireFly Metals to Add AU$95 Million to Coffers With Equity Raising

by admin June 12, 2025
June 12, 2025
FireFly Metals to Add AU$95 Million to Coffers With Equity Raising

FireFly Metals (ASX:FFM,TSX:FFM,OTC Pink:MNXMF) has attained firm commitments to raise up to about AU$95 million, giving it a total of AU$135 million for its multi-pronged growth strategy.

The company highlighted on Tuesday (June 10) that the equity financing will be completed via the issuance of approximately 94.7 million fully paid ordinary shares; it will receive around AU$1 per new share.

The funds will be raised via three transactions, with the first being an AU$11.2 million charity flow-through placement to Canadian investors. This will be followed by a AU$54.9 million two-tranche institutional placement, as well as a AU$28.8 million fully underwritten Canadian bought-deal offering with BMO Capital Markets.

Alongside the equity raising, FireFly is inviting shareholders to participate in a non-underwritten share purchase plan (SPP) that can potentially raise up to AU$5 million before costs.

Proceeds of the equity raising and the SPP will collectively be allotted to advance the Green Bay copper-gold project in Canada, including transaction costs and working capital.

Located in the Baie Verte district of Northeast Newfoundland on Canada’s east coast, Green Bay was acquired by FireFly in August 2023. Green Bay includes Ming underground mine, which was mined between 1972 and 1982, with activity restarting in 2012. Historic production totaled 6.7 million metric tons (MT) at 2 percent for 134,000 MT of copper.

Measured and indicated resources at Ming are at 21.5 million MT at 1.8 percent for 307,000 MT of copper equivalent, while inferred resources are at 28.4 million MT at 2 percent for 576,000 MT of copper equivalent.

FireFly began drilling at Ming in October 2023, completing 79 drill holes across 37,110 meters within a year.

“The overwhelming demand for the raising reflects the quality and growth outlook at Green Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects,” said FireFly Managing Director Steve Parsons in the company’s press release.

He called the asset, alongside FireFly’s exploration team and AU$135 million in funding, “the ideal recipe for growth.”

FireFly states on its website that it will continue with its low-cost rapid resource growth strategy, with the underground exploration drill drive at the Ming deposit to be extended during this year.

The company debuted on the Toronto Stock Exchange in December 2024.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Democrat Congresswoman draws boos over ‘shameful’ sexism remark in committee hearing with Treasury Secretary
next post
Crypto Market Recap: Bitcoin Price Nears All-time High, ETF Approval Odds Rise

You may also like

Crypto Market Recap: Bitcoin Rebounds After Drop Below...

Top 5 Canadian Mining Stocks This Week: St....

Greenvale Energy

Randy Smallwood: Silver Set for Bull Run, Gold...

A$20 Million Placement to Strategic Partner

Radiopharm Theranostics and Cyclotek Sign Clinical Supply Agreement...

Nuvau Announces Voting Results of Its Annual and...

Expert: African Lithium Key to China’s Battery Supply...

Blackrock Silver Drills Multiple +1 kg/t AgEq Intercepts...

Harvest Gold: Advancing the Large-scale Mousseau Gold Project...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • White House wants Obama intel officials ‘held accountable’ for role peddling 2016...

    • EPA places numerous employees on leave for alleged misuse of official titles in unauthorized letter

    • 2 lone Republicans vote against Trump’s ‘big, beautiful bill’ as it heads to president’s desk

    • Justice Alito’s warning about nationwide injunction ‘loophole’ looms over Trump cases

    • House Republican calls for third Trump term over passage of ‘historic’ tax bill

    Categories

    • Business (42)
    • Investing (279)
    • Politics (402)
    • World (210)
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting

    Disclaimer: toppricemarket.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 toppricemarket.com | All Rights Reserved


    Back To Top