PERTH (miningweekly.com) – Explorer Liontown Resources has agreed to place more than 50-million shares, at 3c each to raise A$1.5-million to advance exploration at its Ibaga copper/zinc project, in Tanzania.
The junior said on Monday that the placement was a 14% discount to the company’s last closing price of 3.5c a share. The placement would be done under the company’s 15% capacity, and would not require shareholder approval.
Drilling at the Ibaga project was expected to start next month.