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Marquee Resources Ltd (ASX: MQR) has announced a $5.7m capital raising

Marquee Resources Ltd (ASX: MQR) has announced that it has received firm commitments in a Placement to sophisticated and professional investors to raise $5,705,505 in a heavily demanded placement. The funds raised will be used for drilling and exploration work at the Kibby Basin Lithium Project, West Spargoville Lithium Project, Lone Star Copper-Gold Project and Redlings REE Project.

When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.

More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.

Following the announcement, shares in Marquee Resources Ltd traded 5.74% lower at A$0.12/share.

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