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Tyranna Resources opens Share Purchase Plan for South Australian gold

Tyranna's Typhoon gold prospect is located near the Challenger Gold Mine.
Tyranna Resources opens Share Purchase Plan for South Australian gold
The company is increasing its cash balance

Tyranna Resources Ltd (ASX:TYX) is offering a Share Purchase Plan (SPP) which is capped at $1 million, on the same terms as the recent placement which raised $1.54 million before costs.

The SPP is offered at $0.017 and includes a 1 for 1 free attaching $0.04 option with a four year expiry from date of issue.

The offer will be open until the 29th September 2017.

Bruno Seneque, managing director, recently commented: "With drilling at Typhoon nearly finished, the Tyranna technical team will test their new approach to the geological model with drilling to continue at Greenewood.

"This is definitely an exciting time for Tyranna shareholders.

"We feel that we are now at a catalyst change in the development of this company and I look forward to updating our shareholders over the coming quarter."

READ NOW: Tyranna Resources drills for gold at Typhoon

The Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

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Tyranna Resources Ltd Timeline

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