Xanadu Mines Ltd Completes Significant Share Placement
Xanadu Mines Ltd (ASX:XAM, TSX:XAM), a company dedicated to copper and gold exploration, is thrilled to declare the successful completion of its recent share placement. This strategic move involves the issuance of 26,515,543 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a subsidiary of Zijin Mining Group Co. Ltd. The shares were priced at A$0.055 each, reflecting the company's commitment to advancing its projects.
Overview of Share Placement Agreement
The completion of this share placement comes after fulfilling all Conditions Precedent outlined in the Share Subscription Agreement with Zijin. Notably, shareholder approval was granted, paving the way for this transaction on a prior date.
Key Figures in Xanadu Mines
Leading this initiative are key executives at Xanadu Mines Ltd. Colin Moorhead, the Executive Chairman and Managing Director, alongside Chief Financial Officer Spencer Cole, are pivotal in the company's continuous progress and transparency with shareholders.
Contact Information for Shareholders
For further inquiries, interested parties can easily reach out via the following contact details:
Colin Moorhead, Executive Chairman & Managing Director
P: +61 2 8280 7497
E: colin.moorhead@xanadumines.com
Spencer Cole, Chief Financial Officer
P: +61 2 8280 7497
E: spencer.cole@xanadumines.com
About Xanadu Mines Ltd
Xanadu is committed to providing significant opportunities for investors looking to tap into remarkable copper-gold discoveries within Mongolia. As an ASX and TSX listed exploration company, Xanadu offers exposure to large-scale, high-potential projects that characterize the mining sector. Their flagship Kharmagtai project highlights the company's capability, especially considering their 50-50 joint venture partnership with Zijin Mining Group.
Strong Portfolio in Copper-Gold Exploration
Xanadu Mines continues to expand its portfolio of valuable exploration projects while preserving low-cost inventory growth. Their unique position among junior explorers sets them apart as they control one of the most significant copper-gold deposits available.
For More on Xanadu
Investors looking for more comprehensive information regarding Xanadu Mines Ltd can visit their official site at www.xanadumines.com.
Conclusion
The recent share placement not only reinforces Xanadu Mines Ltd’s operational framework but also exemplifies their readiness to progress in the competitive exploration market. With the partnership and support from Zijin Mining, the future looks optimistic for Xanadu as they embark on unveiling further opportunities on their existing projects.
Frequently Asked Questions
What was the purpose of the share placement to Zijin Mining?
The share placement was aimed at strengthening Xanadu Mines' resources and advancing their exploration projects in Mongolia.
How many shares were issued in the placement?
A total of 26,515,543 fully paid ordinary shares were issued to Zijin Mining.
What is the issue price of the shares?
The shares were priced at A$0.055 each during the placement.
Who are the key executives at Xanadu Mines Ltd?
Colin Moorhead serves as the Executive Chairman and Managing Director, while Spencer Cole is the Chief Financial Officer.
Where can I find more information about Xanadu Mines Ltd?
More detailed information can be found on their official website: www.xanadumines.com.
