PERTH (miningweekly.com) – Explorer Impact Minerals will raise up to A$4-million through a share purchase plan (SPP) to fund drilling at its Commonwealth gold/silver/base metals project, in New South Wales.
The company will offer some 222.3-million new shares under the SPP, with shareholders able to subscribe for up to A$15 000 in new shares, at a price of 1.8c a share.
Eligible shareholders will also be offered three free attaching listed operations, exercisable at 4c each, with an expiry date of June 2020, for every two new shares subscribed for.
The SPP will close on June 9.
MD Mike Jones told shareholders that in addition to funding drilling at the Commonwealth project, proceeds from the SPP would also be used for follow-up work, including drilling, at the Broken Hill copper/nickel/platinum group metals project where targets were recently identified.