Mineral Commodities Completes Placementadmin
Mineral Commodities announced that it has completed a placement of 12m ordinary shares at $0.26 per share to raise $3.12m before expenses. The placement has been made to institutional clients of UK based Mirabaud Securities and falls within the company’s 15% placement capacity as set out in ASX Listing Rule 7.1. The funds will be used to further expedite the progress on the company’s Xolobeni and Tormin projects, and facilitate the upgrading and re-commissioning of its diamond operations in Sierra Leone. Furthermore, it will provide additional working capital to investigate other opportunities within the global resource sector. The new ordinary shares, when issued, will rank pari passu with the existing ordinary shares. Application will be made for the new ordinary shares to be admitted to trading on the ASX.
Original Announcement: Placement