NickelSearch Ltd (ASX:NIS) has successfully completed a $2.1 million Non-Renounceable Entitlement Offer. Eligible shareholders subscribed for $802,656.73, with the remaining balance issued to the underwriters. The completion of the Entitlement Offer was the final condition precedent for the acquisition of the Mt Isa North Copper-Uranium Project. The raised funds will primarily be used for an extensive exploration program, focusing on the recently acquired Mt Isa North Project.
We are thankful for the support of participating shareholders and the underwriter in the Entitlement Offer, which will allow the Company to significantly ramp up its exploration programs at Mt Isa North and Carlingup. The Mt Isa North Copper-Uranium Project contains a number of high priority targets that we will look to progress over the coming months. At Carlingup, we are proceeding with the Program of Works application in order to allow lithium drilling at the Quarry North prospect in early 2025, subject to approvals.
NickelSearch Ltd (ASX:NIS) has successfully completed a $2.1 million Non-Renounceable Entitlement Offer, with eligible shareholders subscribing for $802,656.73. The completion of this offer was the final condition precedent for the acquisition of the Mt Isa North Copper-Uranium Project. The raised funds will be primarily used for an extensive exploration program, focusing on the recently acquired Mt Isa North Project. The Company aims to significantly ramp up its exploration programs at Mt Isa North and Carlingup, with plans to progress high priority targets at the Mt Isa North Copper-Uranium Project over the coming months. Additionally, the Company is proceeding with the Program of Works application to allow lithium drilling at the Quarry North prospect in early 2025, subject to approvals.