"Meanwhile, listed explorer RareX was seeking investors for $10 million at 9¢ a share (10 per cent discount to the last close) to fund drilling and study works at its flagship Cummins Range rare earths project in Western Australia, according to a term sheet sent to investors.
It planned to use rest of the funds for exploration at other projects, including a copper-gold tenement in NSW’s Lachlan Fold, and for business development and general working capital.
Cummins Range previously advised on a primary zone exploration target of 23 to 41 Mt at 1.32 per cent total rate earth oxide and 0.17 per cent niobium pentoxide.
RareX’s joint lead managers for the placement, Canaccord Genuity and Bridge Street Capital Partners, called for bids by 5pm Tuesday (Southern Hemisphere investors) and 8am Monday (Northern Hemisphere investors). RareX had a $45.16 million market capitalisation before the raise."
https://www.a fr.com/street-talk/listed-medtech-anteris-explorer-rarex-in-placements-20220301-p5a0me
