https://www.engineeringnews.co.za

Metal Bank seeks funds for Queensland exploration

19th September 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Junior Metal Bank is hoping to raise up to A$5.4-million through a share placement and rights issue to fund exploration work at the Triumph gold project, in Queensland.

The company on Monday said that it would place some 116.6-million new shares to sophisticated and institutional investors, at 3c each, to raise an initial A$3.5-million.

The placement would be within the company’s capacity and would not require shareholder approval.

A one-for-ten pro-rata nonrenounceable rights issue of fully paid ordinary shares would also be undertaken to raise up to A$1.9-million.

In addition to providing funding for the Triumph gold project, the capital raise would also provide general working capital, and would fund ongoing exploration work at the Eidsvold gold project.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

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:0.052 0.876s - 140pq - 2rq
Subscribe Now