Shareholders have demonstrated their confidence in ASF Group and its activities by subscribing for 33,852,492 shares. This represents about 63.58% of the shares offered under the rights issue priced at $0.18 per share. Funds will be used to fund current investments and for working capital.
The All Ords has built on yesterday’s rally, rising 1% to 5,189.7 points with energy stocks leading the way.
However, they were outpaced by this Solomon Islands-focused miner, which reported high grade nickel intersections earlier this week.
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Visible copper mineralisation has been observed in new holes drilled at the Ilo Norte Project by earn-in operator Zahena. This provides more evidence of copper mineralisation over an increasingly wide area. There is 125 billion pounds of copper within 100 kilometres of the project.
The fully underwritten $69.4 million funding demonstrates the confidence investors have in Peninsula Energy’s Lance Uranium Projects and sets the stage for the company to become a uranium producer in 2015.
Highfield has signed a MoU with the Port Authority of Pasajés in Spain, which gives a non-binding commitment of port capacity for all of the product that is expected to be produced and exported from the company's Muga Project.
Cott Oil and Gas managing director, Andrew Dimsey, speaks exclusively to Proactive Investors about the company’s focus on developing the 800 billion cubic feet Pandora Gas Field offshore Papua New Guinea.
Chairman Richard Shemesian has demonstrated his confidence in Apollo Minerals and its projects with the acquisition of shares in an on-market trade. He now holds about 16 million shares and 5 million performance rights. Directors are also providing support by taking shares in lieu of cash.
Assay of historic cores have confirmed strong continuity of mineralisation at the Kvanefjeld rare earth-uranium project. This will support the updated resource estimate scheduled for completion in early 2015.
The detailed gravity survey will be used to generate drill targets at the E21 area of the Plumridge Nickel Project. Drilling is expected to begin in the first quarter of 2015. The survey will also collect regional data across the majority of the project area.
Soil sampling at the Triple Crown South and Stockies prospects has returned results similar to the nearby Mount Garnet high-grade zinc skarn deposit. Both prospects have had only cursory previous exploration work. Arc Exploration will progress these targets in 2015.
The measures planned include a 10 to 1 share consolidation, a capital raising of up to A$10 million and refinancing of loans. This will enable PanTerra to progress a project that can extend the life of its Las Lagunas project to the pre-development stage. Talks are also underway with a potential Chinese partner.
The funding represents a “see-through” valuation for 100% of Batangas of around A$13.4M, more than three times the current market cap. of Red Mountain. Funding will be used to complete the DFS and permitting, then provide the initial project development financing.