The undisclosed investors will buy new shares priced at 74c each.
Azure described the first five holes it had drilled at Andover as "nothing less than exceptional".
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Years in the Mexico and market wilderness have turned around for Azure Minerals as it gets set to raise A$37 million from investors keen to back its Andover nickel-copper exploration project in the Pilbara region of Western Australia.
The undisclosed investors will buy new shares priced at 74c each.
Azure described the first five holes it had drilled at Andover as "nothing less than exceptional".
Big 2021 drilling program set to deliver maiden Andover resource