CAPITAL MARKETS

Majestic rights issue to fund Messina due diligence

MAJESTIC Resources has finalised a non-renounceable rights issue of 252 million options worth $1.26 million following the conversion into equity late last month of 81% of the $5.8 million owed to noteholders.

Michael Quinn
Majestic rights issue to fund Messina due diligence

If the entire $5.8 million had been converted, the raising would have come in at $1.37 million. The money raised will be used to complete due diligence on the Messina diamond mine in South Africa as...

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