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Additional Information
Market:ASX
Sector:General Mining
EPIC:NTU
Latest Price: 0.51  (7.29% Ascending)
52-week High:1.03
52-week Low:0.37
Market Cap:88.47M
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Northern Uranium

Northern Uranium (ASX: NTU) is an established Australian exploration company primarily focussed on Uranium and Rare Earth exploration and development in Western Australia and the Northern Territory.

Northern Uranium to raise funds for exploration of Gardiner-Tanami Project

Friday, February 26, 2010
Northern Uranium to raise funds for exploration of Gardiner-Tanami Project

Northern Uranium (ASX: NTU) has announced a renounceable rights issue to raise approximately $3.2 million.

The rights issue offers two new shares with two free attaching options for every five shares held at a price of 11 cents per share. The free attaching options will have an exercise price of 15 cents and term of two years.

The rights issue is fully underwritten by Patersons Securities Limited.

The funds raised will principally be used to fund exploration of the 100%-owned Gardiner-Tanami Project, including drilling to follow up last year’s discoveries of uranium mineralisation, and for working capital.

The Company also plans to follow up the discoveries of high value heavy rare earths mineralisation in the western Browns Range Dome area of the Gardiner-Tanami project.

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