Moab secures A$500k for Tanzanian uranium exploration
ASX-listed Moab Minerals has secured a firm commitment from European Lithium to raise A$500 000 through a share placement, supporting its exploration activities at the Manyoni uranium project in Tanzania.
The placement comprises 166.67-million ordinary shares issued at A$0.003 a share, with European Lithium also receiving one free-attaching option for every two placement shares. The options are exercisable at A$0.008 and will expire on December 5, 2027.
The placement will be conducted under Moab’s existing placement capacity, with shares and options expected to be issued on March 4.
Proceeds from the placement will be directed towards advancing exploration at Manyoni, as well as for general working capital purposes.
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