United Minerals Corporation Ltd has announced that a placement of five million ordinary shares at $1.75 per share to raise $8.75 million was finalised on Friday morning.
United Minerals Corporation Ltd has announced that a placement of five million ordinary shares at $1.75 per share to raise $8.75 million was finalised on Friday morning.
The $1.75 issue price achieved was a slight premium to UMC's closing share price on Thursday 22nd May 2008.
The issue has been subscribed to by an overseas investor, and is subject to formal documentation.
The placement is for additional working capital to enable the company to expand it's exploration activities, particularly at it's Pilbara Iron Ore Project.
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