Stonehenge to raise $1.7m in placement

Perth-based tin and nickel miner Stonehenge Metals Ltd will raise $1.7 million through a placement to boost working capital and provide further funding for exploration, the company has announced.

The full text of a company announcement is pasted below

The Company is pleased to announce that it has received firm commitments for the placement of 4,617,466 shares at 36.5 cents per share to sophisticated investors. The placement was arranged by Novus Capital Limited and will raise $1.69m before costs of the issue.

The capital raising will provide Stonehenge with further funding for exploration and working capital.