Myanmar Metals has announced a $7 million capital raising that will allow the company to extend the option over its Bawdwin project until May next year and fund ongoing expenses.

The Perth-based miner will issue 100 million shares at seven cents per share, a 16 per cent discount, with demand from a solid base of Asian and Australian investors.

Myanmar is backed by well-known Western Australian prospector Mark Creasy through Yandal Investments.  

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