St George raises A$5.7m
PERTH (miningweekly.com) – Nickel hopeful St George Mining will raise A$5.7-million through a share placement to fund work at its Mt Alexander project, in Western Australia.
The company will issue nearly 39-million shares, at a price of 15c each under its existing placement capacity.
St George will also extinguish a A$850 000 corporate loan facility through the issue of 5.66-million shares in the company, at a price of 15c each.
“We emerge from this capital raising with a balance sheet that is significantly strengthened, and the capacity to maintain the momentum of our extensive drilling and exploration programmes,” said St George executive chairperson John Prineas.
“With growing investor interest in the nickel space and exploration programmes in full swing, it is an exciting time for St George shareholders.”
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