Alta raises cash for Italian drilling

25th June 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


Font size: - +

PERTH ( – ASX-listed Alta Zinc has secured A$3.6-million to fund exploration work at its Gorno zinc project in Italy.

The junior has received firm commitments from professional and institutional investors for the placement of 890.5-million shares, priced at 40c each, and more than 296.5-million listed options, with an exercise price of 1c each.

An initial A$2.2-million will be raised through the placement of 550.5-million shares under Alta’s placement capacity, while a second tranche placement of 340-million shares will be subject to shareholder approval.

“This placement provides us with significant balance sheet support for our underground drilling programmes at the high grade Pian Bracca and Pontente zones,” said Alta MD Geraint Harris.

“We welcome our new shareholders and are very appreciative of the support that our existing shareholders continue to provide. We intend to build shareholder value through the exploration of our highly prospective zones of identified mineralisation and also to look for opportunities to step out our exploration into new areas. This is with the ultimate aim of increasing the mineable resource inventory at Gorno which will enable us to consider its development options at the appropriate time.”

Meanwhile, Alta will also offer eligible shareholders the opportunity to subscribe for up to A$30 000 worth of new shares in the company under a similarly priced share purchase plan, with the aim of raising up to A$500 000.

Edited by Creamer Media Reporter


The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at

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
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?