Australian Mines launches share purchase plan to raise up to $10 million
Wednesday, 12 June 2019 Australian Mines Ltd (ASX:AUZ) will launch an underwritten share purchase plan (SPP) to raise $5 million with the ability to take oversubscriptions of up to $5 million. Eligible shareholders will be able to subscribe for up to $15,000 worth of shares priced at a 20% discount to VWAP measured over the five days preceding the date of issue of shares. The funds raised through this SPP will be used to advance the company’s Sconi Cobalt-Nickel-Scandium Project in North Queensland. READ: Australian Mines price jump attracts ASX query The company has three projects in Australia with a focus on the Sconi Cobalt-Nickel-Scandium Project in Queensland. AUZ has had a busy start to 2019, centred around an updated JORC resource in February 2019 for its Sconi Project. With a bankable feasibility study (BFS) valuing the project at $697 million in November 2018, the focus for AUZ is project funding. READ: Australian Mines reveals new resource at Bell Creek Nickel-Cobalt Project In late April 2019, AUZ revealed a new resource of 25.8 million tonnes grading 0.72% nickel and 0.04% cobalt at its Bell Creek Nickel-Cobalt Project in Queensland. Bell Creek was acquired as part of the recently completed transaction with Metallica Minerals Ltd (ASX:MLM) along with the Minnamoolka Nickel-Cobalt Project. Both projects are within trucking distance of the proposed processing plant at the Sconi project.
SYDNEY — It appears that three Chinese warships spotted in Sydney Harbor on Monday morning were there for an ultra-highly classified military operation—they were dispatched to pick up some milk.
Photographs taken by the Australian show elite Chinese soldiers carrying boxes of Australian baby...
"Spider-Man: Far From Home" is a certified hit! Uproxx reports the film brought in $27 million on Wednesday. That's the biggest Wednesday opening at the domestic box office ever. The movie broke one of..
Credit: Wochit Entertainment Duration: 00:34Published
Azumah Resources Limited (ASX:AZM) has surpassed the $2 million intended to be raised in a share purchase plan (SPP) by $750,000 with funds to advance the Wa... Proactive Investors Also reported by •GlobeNewswire
Australian Mines Ltd (ASX:AUZ) has closed its underwritten share purchase plan (SPP) oversubscribed with $5.8 million worth of applications. These funds will be... Proactive Investors Also reported by •Reuters
Cannvas MedTech Inc (CSE: MTEC) (OTCPK:CANVF) announced Tuesday it has raised slightly more than C$1 million after closing on the first tranche of a... Proactive Investors Also reported by •GlobeNewswire