Segue Resources Ltd (ASX:SEG) maintains a very active exploration portfolio, and is looking to add to its cash base for additional drilling at the Barlee Gold Project and exploration at the Pilbara Gold Project.
The company has now dispatched details to eligible shareholders of the 1 for 4 pro-rata non-renounceable options entitlement issue.
The options are to be issued for $0.01 and exercisable at $0.10 on or before 31 December 2019, raising up to $431,479.
Segue shares have recently been positively re-rated by the market, last traded at $0.076, or more than double the valuation from just three months ago.
A new name
Segue has proposed a name change to Arrow Minerals Ltd (ASX:AMD), which will be voted on at the AGM this month.