1.6 million raised. rights issue closed.

"Ashburton is pleased to announce that the underwritten Renounceable Rights Issue announced on 9 April 2008 closed on 8 May 2008 and was oversubscribed. The rights issue was strongly supported by existing shareholders, with a significant number of them applying for additional
shares. The issue raised approximately $1.6 million before costs.

The net proceeds from the issue will be used to fund the Company’s active exploration programmes in Brazil and Australia and for working capital."

Now for some drilling!