Brockman finalises $112.5m placement

Brockman Resources Ltd has received the go ahead from its shareholders to complete a $112.5 million capital raising.

Shareholders in the company today approved the second tranche of the placement, consisting of 32.6 million shares at $2.50 each, and ratified the first tranche that raised $31 million.

The raising will be used to accelerate the development of the company's flagship Marillana iron ore project, located near Newman, which is scheduled to come online later next year.