PERTH (miningweekly.com) – Junior explorer Apollo Minerals was hoping to raise some A$2.2-million through a share placement to institutional and sophisticated investors.
The company would place some 100-million new shares at a price of 2.2c a share.
Proceeds from the capital raising would be used to fund exploration work at the EagleHawk and Mars Aurora Tank projects, in South Australia, including drilling iron-ore/copper/gold targets in the third quarter of the year.
The funds would also be used for general working capital purposes.