XState uranium play to raise $6m

Nedlands-based uranium explorer XState Resources Ltd, formerly Oriental Crystal (International) Ltd, has issued a prospectus to raise $6 million, funding a change in the company's direction.

The company, which will issue 30 million shares at 20c each, entered a deed of arrangement on March 11 2004 following the appointment of administrators in the then China-focused copper tubing manufacturer.

Oriental changed its name in September to reflect the new focus on Uranium exploration in Arizona, USA.