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Stavely raises A$19.6m

14th October 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Stavely Minerals will raise A$19.6-million through a share placement to fund gold and copper/gold exploration across Australia.

The company on Monday told shareholders that 19.6-million shares will be placed at a price of A$1 each to raise the capital, with the placement to be undertaken under the company’s existing capacity.

The shares will be placed to sophisticated and institutional investors, with Morgans Corporate acting as lead manager to the placement.

“Stavely Minerals is now very well funded to accelerate our drilling at the exciting Thursday’s Gossan project, where we have enjoyed recent drilling success, and other regional targets in the company’s 100%-held Stavely project, while also advancing our gold targets in Tasmania and Queensland,” said executive chairperson Chris Cairns.

Edited by Creamer Media Reporter

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