Big raising highlights Azure promise SUBSTANTIAL institutional...

Big raising highlights Azure promise

SUBSTANTIAL institutional interest is being shown in Azure Minerals’ Alacran project in Mexico, with the junior able to raise an impressive $A15 million for ongoing exploration and development studies.

http://www.miningnews.net/wp-conten...854-1-eng-GB_azure-minerals-alacran-sep15.png

Photograph of Mesa de Plata, looking north.

Azure is issuing shares priced at 3.8c to a range of North American, European and Australian institutions, with a further $3 million now being offered to existing shareholders.
The company started the quarter with $4.2 million cash, with the company having raised $5.2 million late last year in a placement that priced shares at 3.6c.
Investors then included the very successful resource sector investor and prospector Mark Creasy, and Sprott, the well-known Canadian investment firm.
MNN was unable to reach Azure’s managing director Tony Rovira, who is out of Australia until next month.
Azure announced an initial high grade silver resources at its flagship Mesa De Plata discovery earlier this month, and has also being achieving good gold drill results next door at Loma Bonita.
Shares in Azure were off 9% to 4c in early trade, capitalising the company at $50 million.