11:46 AM EDT, 10/16/2024 (MT Newswires) -- NGEx Minerals ( NGXXF ) on Wednesday increased its non-brokered private placement of shares to raise $175 million, up from its original $100-million target.

The company will now issue 15.91-million shares priced at $11.00 each.

NGEx will use the proceeds mainly for developing its Lunahuasi project in San Juan Province, Argentina, continued exploration and maintenance of the Los Helados project in Chile, and for general corporate and working capital purposes.

NGEx shares were last seen up $0.51 to $11.95 on the Toronto Stock Exchange, a 52-week high.

Price: 11.90, Change: +0.46, Percent Change: +4.02