PERTH (miningweekly.com) – ASX-listed junior Coventry Resources has raised A$2.7-million through a share placement to advance its exploration and development work at the Caribou Dome copper project, in Alaska.
The company on Thursday revealed that it would issue 129-million shares, at a price of 2.1c each, to raise the capital.
The shares were placed within Coventry’s existing capacity and did not require shareholder approval.
The Caribou Dome copper project comprises 169 mineral claims covering some 21 280 acres. The project contains a number of drill-ready targets, and Coventry was hoping to delineate an initial 5-million to 10-million tonnes of resource, grading between 2.5% and 4% copper.