Carnaby shakes the tin for exploration work
PERTH (miningweekly.com) – Junior Carnaby Resources will raise A$4-million through a share placement and share purchase plan (SPP) to fund exploration work in Western Australia and Queensland.
The bookbuild for a A$3-million share placement has been completed, with Carnaby expected to raise an initial A$2.6-million through a first tranche placement, priced at 30c a share, under the company’s existing placement capacity.
A second tranche of shares will be issued to directors of the company, raising A$350 000, subject to the completion of the first tranche placement and shareholder approval.
The SPP, which will also be priced at 30c a share, is expected to raise a further A$1-million.
“Carnaby welcomes the significant support demonstrated for the placement by existing and new shareholders, including high quality resource institutional investors. In conjunction with the Tick Hill tailings sale and existing cash, the placement provides Carnaby with a strong financial footing to scale up and accelerate the exploration and development of its Strelley and Tick Hill projects,” said MD Rob Watkins.
A maiden 8 500 m aircore drilling programme at the Strelley project will start in October this year, followed immediately by a 3 500 m reverse circulation drilling programme.
At the Tick Hill project, in Queensland, drilling is expected to start in early November.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation