PERTH (miningweekly.com) – ASX-listed Mincor Resources has closed its share purchase plan (SPP), raising A$1.3-million more than targeted.
The nickel developer earlier this month completed a A$60-million share placement, and opened an SPP targeted at raising A$5-million.
However, the company on Thursday closed the SPP after receiving a A$6.3-million take-up.
Mincor told shareholders that it would issue the SPP shares on September 29.
Funds raised through both the share placement and the SPP will be used to de-risk production at the Kambalda operations, in Western Australia.