Peel raises A$6m for exploration work
PERTH (miningweekly.com) – Diversified metals explorer Peel Mining will raise A$6-million in a share placement to accelerate exploration work in New South Wales.
The company on Thursday announced that it had successfully placed 15-million fully paid ordinary shares, at 40c each, to sophisticated and institutional investors.
The placement price represented an 11.1% discount to Peel’s last trading price of 45c a share, and a 5% discount to the company’s five-day volume-weighted average price.
“We are extremely pleased with the level of interest in the placement from both existing shareholders and new investors, as it has ensured we have the funding to properly test Southern Nights and the broader Wagga Tank area,” said Peel MD Rob Tyson.
“Early indications are that the project has the potential to host a major mineralised system.”
Proceeds from the placement will fund exploration activities at Wagga Tank and pre-development activities at the 50%-held Mallee Bull polymetallic project, as well as function as working capital.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation