The key elements of the capital raising and work plan are as follows:
• A capital raising of up to $1.75M through a placement of up to 250M fully paid ordinary shares at $0.007, with a 1:2 attaching AGEO listed option.;
• Share placement is subject to Shareholder approval at an Extraordinary General Meeting (EGM) to be called for this purpose likely in early to mid-August;
• Funds of up to $1.5M to be allocated to restart exploration work and undertake drilling at the TCC4 Prospect;
• Arnhem Land camp opening and track access work has been commenced;
• Funds to also provide sufficient working capital to advance our other best uranium targets on the Company’s tenements within Arnhem Land;
The placement has been targeted to strategic and institutional clients, and high net worth clients of BW Equities,
positive is BW Equities wont flip for pips so annoyed with another raise but they have done so through the right firm + now we are going to drill the uranium targets ....
Look forward for the next few months ...
TS
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