Gunson Resources (ASX:GUN) has extended its share purchase plan to raise up to $1 million by five trading days to 21 November 2014.
The SPP priced at $0.015 per share is expected to fund exploration at its Tanzania and Coburn minerals sands projects.
Proceeds from the SPP will be used for the following:
- Exploration, drilling, resource estimation, and metallurgical work on its Tanzanian mineral sands projects;
- Progressing the Coburn Mineral Sands Project;
- Further exploration activities on its other exploration projects in South Australia and possibly the Northern Territory; and
- Working capital purposes.
The SPP represents a 1% discount to the volume weighted average closing price of shares traded on the ASX in the 5 day period ending on 17 October 2014.
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