https://www.miningweekly.com
Building|Exploration|Mining|Drilling
Building|Exploration|Mining|Drilling
building|exploration|mining|drilling

Poseidon raises cash for nickel hunt

14th December 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Nickel developer Poseidon Nickel will raise A$10-million through a share placement to accelerate exploration at its Black Swan operation, in Western Australia.


The company on Monday said that it had received commitments for the placement of 166.67-million new shares, priced at 6c each, with the price representing a 10.4% discount to the company’s last closing price.

“This placement will provide us with funds to accelerate our exploration activities at Black Swan and aggressively explore the Southern Terrace where we have recently discovered the high grade Golden Swan massive sulphide nickel mineralisation,” said Poseidon MD and CEO Peter Harold.

“Funds will be allocated to completing the Golden Swan drill drive, the Golden Swan resource drilling programme, further exploratory drilling and electro magnetic surveys within the Southern Terrace and resource to reserve conversion drilling of the Silver Swan resource.

“All of these activities are aimed at building a sufficient high-grade inventory at Black Swan to allow mining to recommence after a ten-year hiatus,” Harold said.

Edited by Creamer Media Reporter

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.231 0.267s - 109pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: