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New Murchison raises A$16.5m for Crown Prince project

Time

2025-12-30 14:33

Source:

By: Creamer Media Reporter

 

New Murchison Gold has secured firm commitments to raise A$16.5-million through a share placement, attracting strong support from existing and new institutional investors.

 

The company will issue 1.27-billion fully paid ordinary shares at A$0.13 apiece. Major shareholder Westgold Resources has subscribed for A$2.8-million in the placement, increasing its post-transaction stake to 16.22%.

 

"The placement was undertaken in response to strong inbound interest from institutions following our recent exploration successes and also with growing recognition of the high-quality development being delivered on at Crown Prince gold project," said New Murchison CEO Alex Passmore.

 

"The proceeds from the placement underpin the acceleration of project development and our exciting deeper drilling, at depth, at Crown Prince."

 

Crown Prince forms part of the Garden Gully gold project in Western Australia.

 

Funds raised will support exploration, project development, and general working capital. Following the completion of the placement, New Murchison Gold expects to hold a cash balance of about A$22.1-million, before costs.

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