Giants placement finished
GIANTS Reef Mining has raised $4.24 million from a share placement along with another $1.62 million from its share purchase plan that will be put towards its mine development and exploration activities.
One of the first cabs off the rank will be the fast-tracking of Giants’ Malbec West open pit development and drill testing the potential depth extensions.
Other projects include a gold and copper expansion study to determine the economics of mining known resources and adding a copper recovery unit at its Warrengo plant and accelerating its exploration activities.
The Malbec West prospect is located 900 metres to the west of Giants’ Chariot Mine near Tennant Creek in the Northern Territory.
Malbec West comprises an open pitable oxide gold resource that can be processed at its Warrego gold ore treatment plant.
The share placement involved about 56.6 million shares at 7.5 cents each.