Perth-based minerals explorer 3D Resources Ltd is looking to raise up to $6 million mainly to fund a review and progress its existing projects.
The company today lodged a short form prospectus with the Australian Securities and Investment Commission for the issue of up to 100 million shares at 6 cents each, a premium to its last traded price of 5.8c.
A minimum subscription level of $4.2 million has been set.
If full subscription of the issue is reached, the company said it will set aside over $4.8 million to review and progress existing projects, and seek new projects to add to its portfolio.
About $800,000 will be set aside for working capital while $398,000 will go towards expenses to the offer.
Ascot Securities Pty Ltd will act as broker to the offer.
The raising is scheduled to close on 19 October and the new shares, ranked equally with existing stock, are expected to be listed on October 27.
The company holds projects in the East Kimberley, Ashburton and Glengarry Basins, and the Eastern Goldfields of Western Australia.
