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Platina Resources raises $1.25 million to advance exploration portfolio

The company is advancing plans for a 10,000-metre drilling program at the Blue Moon Zinc-Copper-Gold Project in the USA, which it is scheduling to occur after acquiring up to a 70% interest.

Platina Resources Ltd - Platina Resources raises $1.25 million to advance exploration portfolio
An initial 10,000-metre first phase drilling program has been fully permitted

Platina Resources Ltd (ASX:PGM) has raised a total of $1.25 million as part of the company’s purchase plan (SPP) with funds to advance the company's exploration portfolio.

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.

SPP details

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.

Quick facts: Platina Resources Ltd

Price: 0.0215 AUD

ASX:PGM
Market: ASX
Market Cap: $7.01 m
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