PERTH (miningweekly.com) – Dual-listed explorer RTG Mining has raised A$15-million through a share placement to fund development activities at its Mabilo copper/gold/magnetite project, and advancing exploration at the Bunawan project, both in the Philippines.
About 16.79-million shares were issued, at a price of 68c each, to raise an initial A$11.4-million as part of the first tranche of placements. The first tranche was issued within the company’s capacity, and did not require shareholder approval.
A second tranche comprising about 5.5-million shares raised a further A$3.7-million, and would be placed following shareholder approval in April.
ASX- and TSX-listed RTG merged with Sierra Mining in June last year, giving the company access to Sierra’s Mabilo and Bunawan projects.