https://www.engineeringnews.co.za

Marmota raises cash for South Australian exploration

15th July 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior explorer Marmota has raised A$6.5-million through a share placement priced at 5.3c each, to accelerate development of the Aurora Tank gold discovery, in South Australia.

The placement will consist of more than 122.6-million shares, with one attaching unlisted option for every two new shares subscribed for, at an exercise price of 10c each and with a two-year expiry.

The share placement will be settled in one tranche under the company’s existing placement capacity, and will not require shareholder approval, Marmota said on Wednesday.

“Marmota is delighted with the interest shown in the company by investors,” said chairperson Dr Colin Rose.

“I am very pleased to report that yesterday, our team departed Adelaide for Aurora Tank, and that the new semi-permanent camp is today on its way to Aurora Tank via road train, along with cranes out of Port Augusta and support crew from Coober Pedy. We hope to have the new camp installed by the weekend, with drilling to immediately follow.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 
Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.814s - 140pq - 2rq
Subscribe Now