08:05 AM EST, 01/09/2025 (MT Newswires) -- Xanadu Mines ( XANAF ) late Wednesday said it completed a share placement to a subsidiary of Zijin Mining Group.

Xanadu said it issued 26,515,543 fully paid ordinary shares to Zijin unit Jinping (Singapore) Mining for A$0.055 apiece.

The completion follows the satisfaction of all conditions Precedent under the share subscription agreement with Zijin, including shareholder approval on Dec. 20, 2024.

Zijin is Xanadu's joint venture partner for Kharmagtai copper-gold project in Mongolia.