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Placement via the issue of up to approximately 18.6 million shares at the Offer price to raise approximately $4.0 million in accordance with ASX Listing Rule 7.1.In addition to the Placement, the Company will conduct a Share Purchase Plan (“SPP”) to eligible shareholders targeting to raise approximately A$2.0 million via the issue of approximately 9.3 million shares.The New Shares will rank pari passu with existing fully paid ordinary shares from allotment.
Uses of Proceeds & Cash position1 Use of proceeds A$ millions
Cape Hardy port precinct development costs 2.5
Maintenance of CEIP Mining Lease 0.4
Secondary CEIP approvals & updated 12Mtpa costings 0.8
Corporate / working capital 2.3
Total 6.0
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