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Saturn Metals Raises AU$21 Million via Share Purchase Plan

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Saturn Metals (ASX:STN) raised nearly AU$21.3 million through its recently closed share purchase plan, with a total of 53.2 million new shares to be issued, according to a Friday filing with the Australian bourse.

The company elected to accept all valid applications under the share purchase plan, raising a total of AU$121.3 million together with its AU$100 million placement, the filing said.

Funds will be used to advance the Apollo Hill project in Western Australia, per the filing.

Shares fell 2% in morning trade Friday.

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