Belararox Ltd. has successfully secured A$8 million through an oversubscribed placement to advance its TMT Project in Argentina, with major shareholder Denala Limited increasing its stake to 17.1%. The funds will support a significant exploration program, including 6,000 meters of drilling at key targets Malambo and Tambo South, commencing in November 2024. This financial boost underscores investor confidence in Belararox's strategic initiatives and potential growth in the mining sector.

For further insights into AU:BRX stock, check out TipRanks' Stock Analysis page.