Emmerson raises exploration funding
PERTH (miningweekly.com) – Junior Emmerson Resources will raise A$6.5-million to accelerate exploration activities in the Northern Territory and New South Wales.
The ASX-listed company on Thursday said that it would issue 43.4-million shares, at a price of 11.5c each, to raise an initial A$5-million under its existing placement capacity.
The company will also undertake a share purchase plan, offering existing shareholders the opportunity to subscribe for $30 000 worth of new shares in the company, to raise a further A$1.5-million.
“This new funding places Emmerson in a strong position to advance our projects in the Tennant Creek mineral field and the highly prospective Macquarie Arc of New South Wales,” said MD Rob Bills.
“We are excited to continue drilling at Hermitage where we returned our strongest ever copper drill result. We are also preparing to drill Kiola, our most advanced project in NSW which shares many characteristics of the Cadia-Ridgeway and Boda projects.
“The strongly supported placement reflects investor appetite for Emmerson’s high-quality portfolio of copper, gold and cobalt opportunities and removes any future uncertainty around funding for our planned work. We believe Emmerson is well-positioned in having significant ground positions across some of Australia’s foremost exploration hotspots with Tennant Creek being one of Australia’s highest-grade gold provinces and the Macquarie Arc, in New South Wales, home of some of the largest copper/gold projects.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
