Placements on track

PALADIN Resources has announced plans to raise more than $A30 million. Company directors say the money will fund the Langer Heinrich uranium project from the bankable feasibility study to early development. The placement will be finalised this month. Meanwhile, Summit Resources says a placement issue to limited share investors has raised more than $6.8 million. The placement issue was to raise working capital and for exploration and drilling operations at Mount Isa. This week, Niagara Mining announced a $A1.4 million placement to professional investors. The funds will be used to fund part consideration of the Mt Windarra Nickel Assets.

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