TheBoardofLodestarMineralsLimitedispleasedtoannouncetheplacemento...

The
Board
of
Lodestar
Minerals
Limited
is
pleased
to
announce
the
placement
of
23,239,474
fully
paid
ordinary
shares
at
9.5
cents
each
to
raise
$2,207,750
in
working
capital.
9,250,000
shares
have
been
placed
pursuant
to
Listing
Rule
7.1
of
ASX
Listing
Rules,
to
raise
$878,750.
A
further
13,989,474
shares
will
be
placed
subject
to
approval
of
shareholders
at
the
forthcoming
Annual
General
Meeting
of
the
Company,
to
raise
a
further
$1,329,000
Both
tranches
of
the
placement
will
be
made
pursuant
to
Section
708
of
the
Corporations
Act
to
sophisticated
and
professional
clients
of
Lead
Manager
Patersons
Securities
Limited.
Funds
raised
from
the
share
issues
will
be
used
for
ongoing
exploration
and
evaluation
of
the
recently
acquired
Doolgunna
tenements,
for
the
acquisition
of
additional
tenements
and
to
provide
working
capital.

Not happy Jan