Proactive Investors - Run By Investors For Investors

New Age Exploration completes placement after issuing tranche two shares

The 2018 phase I drilling program commenced in June at the Redmoor Tin Tungsten Project.
four hands holding a speech bubble that says 'funding'
A study has ranked tin #1 and tungsten #7 as metals affected by new technology

New Age Exploration Ltd (ASX:NAE) has completed its $1.6 million two-tranche placement after issuing the second tranche of placement shares.

The second tranche of shares required shareholder approval which was received at the extraordinary general meeting (EGM) held recently.

New Age’s managing director Gary Fietz said: “The successful completion of this $1.6 million placement marks an important milestone for the company, allowing it to continue to fund this year’s drilling program at Redmoor.”

READ: New Age Exploration Redmoor project supported by strong tin and tungsten outlook

New Age has funded its 50% share (£332,000) of the £664,000 Redmoor 2018 phase I drilling program.

The second drill arrived at Redmoor recently and the phase I program is progressing on schedule.

The company had $1.24 million in cash at 31 July 2018, which will be applied to advancing the company’s projects and to working capital.

View full NAE profile View Profile

New Age Exploration Ltd Timeline

Related Articles

1530095749_shutterstock_102742847.jpg
June 27 2018
Metalla's royalty portfolio looks set to grow and grow
miners
February 06 2018
Coro Mining is on the move in Chile, with feasibility work nearing completion and new ground to work on
1540234517_shutterstock_562184023.jpg
October 23 2018
The company is the maker of the product Super Greensand - a multi -nutritional fertilzer, which contains 70 elements and trace minerals

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use