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Matsa welcomes institutional investor

2nd March 2020

By: Tasneem Bulbulia

Deputy Editor Online

     

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ASX-listed Matsa Resources has raised A$1.55-million from a German institutional investor to advance its Red October underground mine in Western Australia and to further exploration drilling.

The company on Monday announced that it had placed ten-milion shares with Germany-based investment company Deutsche Balaton at 15.5c each.

The placement is being conducted at a premium to the current market price, which Matsa said demonstrated a “strong belief in the Red October mine in particular”.

Matsa’s stock traded 7% down at 13c a share on the ASX on Monday.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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