PERTH (miningweekly.com) – Gold explorer Breaker Resources will raise A$10.5-million through a share placement to fund drilling and exploration work in Western Australia.
Some 36.53-million shares will be issued under the company’s existing placement capacity, priced at 29c each. The offer price represented a 9.4% discount to Breaker’s last closing price of 32c, and a 16.5% discount to its ten-day volume weighted average share price.
The placement will be made to a combination of Australian and international institutions and professional and sophisticated investors.