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Mining
Alice Queen Ltd

Alice Queen receives commitments to raise $516,000 for Yarindury drilling

The company is exploring gold and copper opportunities in northern NSW and in the Torres Strait.

Alice Queen Ltd - Alice Queen Ltd receives commitments to raise $516,000
The company is preparing to drill porphyry gold-copper targets within its Yarindury Project

Alice Queen Ltd (ASX:AQX) has received commitments from investors to raise $516,000 towards an initial drilling program at Yarindury as well as working capital.

The placement will be conducted through the issue of ordinary shares at a price of 1.2 cents a share.

Investors will also be issued with one free attaching option for every two shares subscribed.

A total of 43 million shares for issue

The free attaching option will be unlisted, have an exercise price of 2 cents and an expiry date which is 18 months from the issue date.

Under the placement, a total of 43 million shares and 21.5 million free attaching options will be issued.

The issue of the placement shares and options, as well as the completion of the placement, will be subject to lodgement of a prospectus, which the company expects to lodge in the coming days.

Quick facts: Alice Queen Ltd

Price: $0.01

Market: ASX
Market Cap: $9.53 m
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