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Market:ASX
Sector:General Mining
EPIC:JMC
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Jabiru Metals

Jabiru Metals Limited (ASX: JML) is an emerging Australian base metals company which will make the transition to production following the development completion and commissioning of the Jaguar Zinc-Copper Project, located 300km north of Kalgoorlie in Western Australia.

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Jabiru Metals to raise $11.5 million to fast track Bentley VMS Zinc Project

Tuesday, June 02, 2009
Jabiru Metals to raise $11.5 million to fast track Bentley VMS Zinc Project

Jabiru Metals Ltd (ASX: JML) has moved out of a trading halt and is to raise $11.5 million through the issue of 46 million shares at an issue price of 25 cents per Share, predominantly to major shareholders.  Consolidated Minerals is the largest shareholder with 27% of JML.

Investors liked the news and JML closed up 5%, at one stage the shares were 10% higher.

Jabiru will use the funds to fast-track resource definition drilling and development of the more recent Bentley Project discovery. The Bentley deposit, located only 4.5km South of Jaguar is a new massive sulphide discovery.

Jabiru's Jaguar Mine is a niche, low-cost producer of zinc and copper concentrates for world markets and among the lowest cost producers in the world and among the top 5% in terms of grade of volcanogenic massive sulphide (VMS) ore deposits, globally. The company is now debt-free.

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