News: Rubianna Resources receives initial substantial shareholding notice

Rubianna Resources (ASX:RRE) has received a notice of initial substantial shareholding from Philip David Crutchfield who holds a 5.06% stake.

Crutchfield acquired the 5.5 million shares for a total of $55,000 on 11 June.

The company had recently raised $170,000 through a placement of 17 million shares priced at $0.01 each.

It has also launched a fully underwritten one for one non-renounceable rights issue of 108,595,605 shares priced at $0.005 each to raise $542,978.

This will fund the ongoing review, evaluation and exploration programs on its existing projects and to review new projects.

Drilling at the Anna East prospect northeast of Meekatharra, Western Australia, has intersected 9 metres at 2.87 grams per tonne gold from 126 metres and 2 metres at 9.95 g/t gold from 14 metres, including 1 metre at 17.76 g/t gold from 141 metres.