Maybe this has something to do with it. But AVM has gone nowhere in the past on better news then this?? Perhaps funding from the banks is progressing well and the over allocation indicates confidence in the co'.
Anvil Mining Limited (TSX, ASX: AVM) (the "Company") is pleased to announce that it has completed its previously announced public offering and has issued 30,015,000 Common Shares (including 3,915,000 Common Shares under the over-allotment option) at C$1.15 per share, for gross proceeds of C$34,517,250. The offering was conducted by a syndicate of underwriters, co-led by Paradigm Capital Inc. and BMO Capital Markets and including Raymond James Ltd.
The Common Shares were offered in Canada by way of a short-form prospectus.
The Company plans to use the net proceeds of the offering for entry premium payments in respect of the Company's Kinsevere copper mine project in the Democratic Republic of Congo and general corporate purposes.
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