C29 Metals Ends Namibia Acquisition, Withdraws Planned Capital Raising
C29 Metals Limited (ASX: C29) has decided to terminate its proposed acquisition of Cancun Gold Pty Ltd after completing an extensive due diligence review. The assessment, including a site inspection by the company's exploration team, concluded that certain Namibian exploration tenements did not satisfy C29’s legal and technical evaluation standards. Consequently, the acquisition will not proceed, with no assets transferred and no consideration paid. Following this decision, the company has also cancelled the second tranche of its previously announced placement and confirmed that all committed funds for that tranche will be returned to investors. Several proposed securities issuances linked to the acquisition and capital raising have also been withdrawn. Looking ahead, C29 Metals stated that it will continue reviewing new growth opportunities while advancing exploration activities across its Australian projects. The decision reflects the company's disciplined approach to project selection and commitment to preserving shareholder value through careful investment decisions.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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C29 Metals Ends Namibia Acquisition, Withdraws Planned Capital Raising
C29 Metals Limited (ASX: C29) has decided to terminate its proposed acquisition of Cancun Gold Pty Ltd after completing an extensive due diligence review. The assessment, including a site inspection by the company's exploration team, concluded that certain Namibian exploration tenements did not satisfy C29’s legal and technical evaluation standards. Consequently, the acquisition will not proceed, with no assets transferred and no consideration paid. Following this decision, the company has also cancelled the second tranche of its previously announced placement and confirmed that all committed funds for that tranche will be returned to investors. Several proposed securities issuances linked to the acquisition and capital raising have also been withdrawn. Looking ahead, C29 Metals stated that it will continue reviewing new growth opportunities while advancing exploration activities across its Australian projects. The decision reflects the company's disciplined approach to project selection and commitment to preserving shareholder value through careful investment decisions.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au