Sirius Resources is capitalising on its recent Nova nickel discovery, launching a $7.6 million capital raising plan to fast track further exploratory drilling at the deposit.
Sirius announced today a $7.6 million share placement, priced at 76 cents per share, to institutional and sophisticated clients of stockbroker Hartleys.
Managing director Mark Bennett said the first diamond rig commenced drilling at Nova today, with another expected to arrive on site next week.
“We are delighted with the overwhelming support for the placement which will see the introduction of a number of high quality domestic and international institutional investors onto our share register,” Mr Bennett said.
“The funds raised will allow Sirius to fast-track the drilling of the Nova nickel sulphide discovery and ensure we are well-funded for an aggressive exploration campaign over the coming months whilst avoiding unnecessary dilution.”
At 12:00PM, WST, Sirius stocks were down 2.2 per cent, at 88 cents.