12/06/2019 - 15:09

Aust Mines to raise up to $10m

12/06/2019 - 15:09

Bookmark

Save articles for future reference.

Australian Mines has launched an underwritten share purchase plan, with the funds raised to advance its Sconi project.

Aust Mines to raise up to $10m
The Sconi cobalt-nickel-scandium project is located in North Queensland.

Australian Mines has launched an underwritten share purchase plan, with the funds raised to advance its Sconi project.

Under the share purchase plan, Australian Mines is seeking to raise $5 million, with the ability to accept oversubscriptions of an additional $5 million.

The SPP will be underwritten to $5 million by Patersons Securities, which is acting as lead manager to the placement.

The shares will be issued at a 20 per cent discount to the five-day volume-weighted average price.

Australian Mines said the capital raised would advance its Sconi cobalt-nickel-scandium project in North Queensland.

Last month, the company was issued with two prices queries by the ASX in the space of a week.

Shares in Australian Mines closed trade down 15.4 per cent at 2.2 cents each.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options