.TiettoMinerals has welcomed a new shareholder with a A$49.3million share placement capital funding finance raise mining gold exploration
PERTH – Shanghai listed Chifeng Jilong Gold Mining Co has taken a 7.87% stake in ASX-listed Tietto Minerals, investing A$49.3-million in the gold hopeful.
The placement will be completed in one tranche later this month, under Tietto’s existing placement capacity, and will see Chifeng Gold have the right to appoint a non-executive director to the Tietto board.The placement is conditional on Chifeng Gold obtaining any regulatory approvals necessary to carry out the placement.
“Most significantly, this placement means Tietto is secure in its pathway to first gold production at the Abujar gold project as we look forward to delivering the updated life-of-mine production plan in the third quarter of 2022,” said MD Dr, said that the company was hoping to contribute to the development of the Abujar gold project.
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