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Collerina raises cash for alumina push

11th July 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Collerina Cobalt will raise some A$4-million through a one-for-ten rights issue, priced at 8c each.

The company said the funds raised will advance the high purity alumina (HPA) First process, at its Collerina project in New South Wales.

The funds will go towards the prefeasibility study testwork, engineering and reporting, project and product marketing, as well as working capital.

The issue price of 8c a share represented a 26.6% discount to Collerina’s one-month volume weighted average price of 10.9c a share.

Edited by Creamer Media Reporter

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