MiningNews.net Capital Watch: PanAust Friday, 6 March 2009
NEVERMIND the credit crunch. Lao-focused PanAust has bolstered its war chest by $A26.3 million in an ambitious share purchase plan.
The company issued close to 176 million shares under the deal, with proceeds of the fundraiser earmarked for development work at key projects in Laos and Thailand.
The fundraiser follows on from PanAust’s recent $21 million capital raising.
“We now have a significant working capital buffer and the funds to advance the Ban Houayxai gold silver project and the Puthep project in northern Thailand,” PanAust managing director Gary Stafford said.
PNA Price at posting:
17.0¢ Sentiment: Buy Disclosure: Not Held
