These funds will support the company as it services and advances the portfolio, including completing the Blue Moon Zinc Project transaction as well as funding the planned exploration and drilling activities at this project.
The company obtained $1,158,500 from eligible shareholders subscribing for fully paid ordinary shares.
This SPP was intended to raise $1.25 million and was fully underwritten by Paterson’s Securities Limited.
Nominees of Patersons subscribed for the remaining $91,500 of the underwritten amount.
The SPP issue price was calculated as 2.1 cents per share which represents a 20% discount to the volume-weighted average price of shares traded during the five trading days prior to the issue date of October 9.