Placement at A$0.085

Seems half the people here missed phillip321's post - so may be a separate title will get the message across. Here's the post again (obviously from a broker's note - thanks phillip 321!):

Placement of between 82.5m and up to 120.0m ord¡nary shares (New Shares) to raise between A$7.0m and up to
A$10.2m, with the ability to take oversubscriptions to raise up to an additional A$Sm.
The New Shares will be listed on ASX and will rank pari-passu with existing fully paid ordinary shares.
New Shares issued under the Placement will be issued pursuant to the Company's existing placement capacity under
ASX Listing Rule 7.1 and Listing Rule 7.1A.
The Joint Lead Managers are inviting Eligible lnvestors to apply for New Shares in the Placement.
A$0.085 per fully paid ordinary share.
The issue price represents a discount of 12.4o/o to Australian Mines' last close on Wednesday, 1 November 2017 of
A$0.097, and a 0.4o/o discount to the 5 day VWAP of A$0.0853.
Australian Mines has confirmed that funds raised pursuant to the Placement will be applied to continue to fund the
trial mining at Scon¡ and production of commercial-grade samples being requested by prospective off-take partners,​

accelerating the resource expansion drilling at its Flemington Projec