JOHANNESBURG (miningweekly.com) – TSX-V-listed project developer Rathdowney Resources has announced a private placement to raise $600 000, which it plans to use to advance its Ola zinc/lead/silver project, in Poland.
Rathdowney will use the proceeds of the placement of about 3.16-million units, at $0.19 a unit, to advance engineering work to progress the Olza project towards feasibility study and the completion of permit licensing.
The Olza project, located in the Upper Silesian mining district of south-western Poland, is being developed as a 6 000 t/d low-cost, bulk tonnage underground operation with a conventional treatment facility producing two low-iron concentrates.