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Azure raises A$15m for Mexico project

23rd May 2016

By: Mariaan Webb

Creamer Media Contract Publishing Editor

  

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JOHANNESBURG (miningweekly.com) – ASX-listed Azure Minerals has secured A$15-million to advance exploration and development studies at the Alacrán silver and gold project, in Mexico.

The company reported on Monday that it would issue 395-million shares at A$0.038 to institutional and sophisticated investors in two tranches. One option, excercisable at A$0.055, would be offered for every two shares subscribed.

Azure also announced a share purchase plan to existing shareholders to raise a further A$3-million.

MD Tony Rovira reported that the placement had received strong support from existing shareholders and institutions in North America, Europe and Australia.

Edited by Creamer Media Reporter

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