Corazon Mining Ltd (ASX:CZN) managing director Brett Smith updates Proactive Investors on the company's share purchase plan to raise $1 million for accelerated exploration at its Mt Gilmore project in NSW, where it has discovered a major new copper-cobalt-silver sulphide region.
The company recently reached an agreement with PAC Securities Pty Ltd for PAC to partially underwrite the SPP to $500,000.
Smith says PAC wants to be involved in the placement of any shortall provided the company does not raise the proposed amount through shareholders.
He continues, "It's a good result for the company - they approached us so it must be a tick in the box for what we're doing as well."
Meet Cardinal Resources Ltd, Legend Mining Ltd and Danakali Ltd at our event, Melbourne , 16 July 2019. Register here »