Anax Metals secures $10 million capital raise to accelerate growth. The ASX-listed mining company completed a two-tranche placement at $0.023 per share, issuing approximately 434.8 million new shares. Proceeds will fund Whim Creek project development and exploration while repaying a $3.5 million Jetosea loan, eliminating an associated 2.5% Net Smelter Royalty. The capital injection strengthens Anax's balance sheet to approximately $7 million in pro forma cash post-debt repayment, positioning the company for upcoming funding discussions worth up to $57 million for further project advancement. Tranche 1 settled in late March, while Tranche 2 awaits shareholder approval at an extraordinary general meeting scheduled for mid-May.
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