16/10/2013 - 15:47

Pluton Resources raises $3m

16/10/2013 - 15:47

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Iron ore junior Pluton Resources has completed a $3 million placement.

Pluton Resources raises $3m

Iron ore junior Pluton Resources has completed a $3 million placement.

Pluton said today it had placed 37 million fully paid ordinary shares at an issue price of 8.2 cents per share to sophisticated and professional investors from a Melbourne-based investment group.

The placement was undertaken with advice and support from Phillip Capital.

Pluton said the proceeds from the placement would be used to bolster its balance sheet and fund growth opportunities.

Shares in Pluton were 2.6 per cent lower at 7.3 cents at the close of trade.

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