------------------------------------- Reward Minerals Ltd (RWD) is pleased to advise that today it has agreed to place 6,600,000 fully paid ordinary shares with institutional clients of Shaw Corporate Finance at an issue price of 68 cents per share to raise $4,488,000 before costs. The funds have been raised to accelerate progress on the Company’s exciting Potash projects. In particular the Company aims to proceed with pilot scale metallurgical testwork, engineering design and feasibility studies related to development of its Lake Disappointment Potassium Sulphate project. It is also proposed to proceed with drilling of a number of the Company’s buried evaporites targets to assess their potential to host world class potash resources similar to those found in Canada, Belarus and Europe. Negotiations regarding drilling equipment and contract terms have been under way for some time. The Company is seeking to finalise arrangements and commence drilling in the near future following completion of the current capital raising.
RWD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
