Enterprise Metals (ASX: ENT) has resolved to raise up to $1.2 million through placement of 24 million shares at $0.05, with a 1:2 free attaching option exercisable at $0.10 on or before 15 June 2016.
Funds raised from the Placement will be used to recommence exploration at Enterprise’s Fraser Range Project, as well as for general working capital purposes.
Enterprise intends to undertake further electromagnetic work and approximately 3,000 metres of reverse circulation drilling with the EM commencing in July and drilling commencing when all required approvals have been received.
Strong support from Enterprise shareholders demonstrates confidence in the project's potential.
Enterprise is also currently awaiting results from drilling at Doolgunna, 10 kilometres southwest of Sandfire Resources' (ASX:SFR) DeGrussa copper and gold mine in Western Australia.
This project is considered prospective for volcanic hosted massive sulphide deposits and sediment hosted base metals deposits (SEDEX copper).
China's SinoTech Corporation is a major shareholder of Enterprise with 33.7%.
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Last
0.6¢ |
Change
0.001(20.0%) |
Mkt cap ! $8.647M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.6¢ | 0.4¢ | $16.71K | 3.245M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 2545404 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 1500000 | 1 |
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| Last trade - 16.10pm 17/09/2025 (20 minute delay) ? |
| ENT (ASX) Chart |