Approx. 15m new shares to be issued; adding to the approx 74m currently on issue. From the Ann this morning:
• 11,726,549 fully-paid ordinary shares in the Company utilising the “flow-through shares”provisions under Canadian tax law at an issue price of A$0.46 per share to raiseapproximately A$5.4 million (C$4.7 million) (“Flow-Through”); and
• 2,941,176 fully-paid ordinary shares in the Company in a traditional placement toinstitutional and sophisticated investors at an issue price of A$0.34 per share to raiseapproximately A$1.0 million (“Institutional Placement”),
So the overwhelming majority of new shares have been sold at AUD 0.46c and lots of drilling can be expected to produce some good news.
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