News: Segue Resources substantial shareholder increase stake to 12.52%

Segue Resources (ASX:SEG) substantial shareholder; N&J Mitchell Holdings Pty Ltd, Croesus Mining Pty Ltd and Linda Steinepreis; has increased its stake in the company to 12.52% from 12.13%.

This is due to participation in the recent placement priced at $0.003 to raise $500,000.

Collectively, $100,000 worth of shares was acquired, increasing the total holding up to 281,833,333 shares.

The company is seeking a further $2 million through a Share Purchase Plan.

Proceeds will be used to fund exploration and drilling at its Plumridge Nickel Project in the Fraser Range Province, Western Australia.

The initial focus of its reverse circulation program is on the northern cluster of targets.

Adding interest - several high priority targets will be drill-tested to confirm the presence of mafic-ultramafic intrusions, commencing with targets E1 and E15.

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