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Merlin Diamonds raises A$5.5M in underwritten rights issue

Merlin Diamonds Ltd. said March 29 that it raised approximately A$5.5 million following the completion of the underwritten entitlement offer, with shareholders taking up just over a third of the rights offered.

The offer, first announced in January, was underwritten by Triple C Consulting Pty. Ltd.

The funds will be used for operations at the Merlin mine in Australia's Northern Territory.