Western Mines Group Completes AU$3.71 Million Capital Raise to Advance Mulga Tank

Western Mines Group Ltd (ASX: WMG) has announced the successful completion of an AU$3.71 million capital raising to accelerate exploration and development at its Mulga Tank Ni-Co-Cu-PGE Project. The placement involved issuing 16.86 million new ordinary shares at AU$0.22 per share, together with 4.22 million unlisted options exercisable at AU$0.40 each. The offer attracted strong demand from sophisticated and professional investors, including three new institutional funds.

WMG’s Managing Director, Dr Caedmon Marriott, and Non-Executive Director, Francesco Cannavo, have also committed to participate in the placement, subject to shareholder approval. Funds raised will be directed towards further RC and diamond drilling, geophysical and geochemical programs, metallurgical testing, and advancing work on an initial scoping study. Chairman Rex Turkington expressed gratitude for ongoing investor support, noting that the strong participation and interest mark renewed confidence in both the company’s exploration potential and the broader nickel sector.

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