PILBARA RAISES $12M TO PROGRESS FLAGSHIP PILGANGOORA LITHIUMTANTALUM PROJECT TOWARDS DEVELOPMENT PILBARA NOW FULLY-FUNDED FOR DEFINITIVE FEASIBILITY STUDY WITH STRONG UPCOMING NEWS-FLOW INCLUDING A RESOURCE UPGRADE AND PRE-FEASIBILITY STUDY DUE IN FEBRUARY 2016
Highlights
$12M raised (before costs) in a heavily oversubscribed share placement of 52.2 M shares at an issue price of $0.23 per share.
Pilbara Minerals is now fully funded for drilling and feasibility work to be conducted at the Pilgangoora Lithium-Tantalum Project.
A Pre-Feasibility Study (‘PFS’) is expected in February 2016 prior to the release of a Definitive Feasibility Study (‘DFS’) in mid-2016.
Share register significantly strengthened with the addition of leading institutional investors from Australia and Asia.
Foster Stockbroking acted as Sole Lead Manager to the Placement.
Ann: Pilbara Raises $12m in Placement, page-3
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