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Lynas raises $2m

LYNAS Corporation has added to its working capital by raising an additional $2 million through a combination of new share placements and the sale of trustee securities.

Eight million shares have been placed with SHAW Stockbroking clients at sixteen cents a share. In addition, a sale of five million trustee securities was made at 16 cents a share.

Shares on issue now total more than 61 million fully paid ordinary shares. These include 7.45 million trustee shares that will expire on 22 June.

Lynas finance director Dennis Wilkins said an application for Australian Stock Exchange listing of the shares placed to SHAWS’ clients would be made once all proceeds were received.

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