Subiaco-based gold explortion company Carbine Resources Ltd and North Perth resources explorer Drake Resources Ltd have raised funds through placements, the companies have announced.
Carbine raised $1 million through the placement of 3 million shares at 33 cents each to accelerate the company's exploration activites in the West Kalgoorlie region and to rpovide additional working capital to investigate other opportunities within the global resource sector.
Meanwhile, Drake Resources raised $495,000 through a placement of 3.3 million shares at 15 cents each along with a 1 for 2 free attaching option exerciseable at 20 cents, funding project development and working captial.
The full text of a Carbine announcement is pasted below
Carbine Resources Limited (CRB) is pleased to announce that it has completed a placement of 3,030,342 ordinary shares at $0.33 per share to raise approximately A$1,000,000.
The placement has been made to a select group of investors and falls within the Company's 15% placement capacity as set out in the Australian Stock Exchange ("ASX") Listing Rule 7.1.
The funds will be used to accelerate the Company's exploration activities in the West Kalgoorlie region and to provide additional working capital to investigate other opportunities within the global resource sector.
The new ordinary shares, when issued, will rank pari passu with the existing ordinary shares. Application will be made for the new ordinary shares to be admitted to trading on the ASX.
The full text of a Drake announcement is pasted below
The Board of Drake Resources Limited (ASX Code - DRK) are pleased to announce a placement of 3,300,000 new ordinary shares in the Company along with a 1 for 2 free attaching 31 December 2009 option exercisable at $0.20 to a range of sophisticated investors.
The placement is being coordinated by Taylor Collison Limited.
The placement is pursuant to Section 708 of the Corporations Act and is at a price of $0.15 to raise up to $495,000.
Further information required by Listing Rule 3.10.3 in relation to the placement accompanies this announcement.
