logo-loader
New Age Exploration Limited

New Age Exploration raising $940,500 to advance UK, New Zealand projects

New Age’s Redmoor resource in the UK now ranks as the largest undeveloped tin or tungsten underground mining project in the world.

currency
The company is again active on Otago Gold Project in New Zealand.

New Age Exploration Ltd (ASX:NAE) has received firm commitments from clients of lead manager, CPS Capital, to undertake a share placement to raise $940,500 at 0.55 cents per share.

Funds raised under the placement will be allocated towards the development of the New Age’s existing projects, seek new opportunities and working capital.

READ: New Age Exploration triples Redmoor resource and increases grade

Earlier this month, the company updated the high grade inferred resource at its Redmoor Tin-Tungsten Project in the UK to 11.7 million tonnes at 1.17% tin equivalent.

Impressively, Redmoor now ranks as the second-highest grade undeveloped tin or tungsten mineral resource in the world on a grade basis.

Furthermore, on a contained metal basis, the Redmoor resource now ranks as the largest undeveloped tin or tungsten underground mining project in the world.

 

New Age expects subscription funds to be received and shares issued under the share placement by mid next week.

CPS Capital have elected to take its 6% broker fees payable under the mandate in shares, at the placement price of 0.55 cents per share.

Quick facts: New Age Exploration Limited

Price: $0.00

Market: ASX
Market Cap: $3.56 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of New Age Exploration Limited named herein, including the promotion by the Company of New Age Exploration Limited in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

New Age Exploration advancing Redmoor and Otago, exploring Lochinvar options

New Age Exploration Ltd (ASX:NAE) chairman Alan Broome provides Proactive Investors with a thorough update on the company's international portfolio of assets. The UK Redmoor project, being developed in JV with Strategic Mineral PLC (LON:SML), is advancing at an opportune time with respect...

on 15/2/19

2 min read