Apollo raises exploration funds
PERTH (miningweekly.com) – Junior Apollo Minerals will raise A$3.25-million through a share placement to fund exploration at its Kroussou base metals project, in Gabon.
The ASX-listed Apollo on Friday reported that it would place up to 50-million shares, at a price of 6.5c each, to sophisticated investors.
The placement will be done in two tranches, with the first tranche consisting of 45.15-million shares, to be issued under the company’s existing placement capacity.
The second tranche of 4.85-million shares will be issued to current and former directors of the company, and would be subject to shareholder approval.
“These funds will support the broader scale drilling and surface exploration programmes we have planned at the Kroussou project during 2021. We are very excited to have commenced drilling and look forward to testing the many identified targets at the project,” said Apollo executive director Neil Inwood.
“The significant support received from existing investors and directors highlights the opportunity for value creation as we systematically explore a large scale, near surface zinc/lead project which has more than 80 km of prospective strike and multiple opportunities for significant discovery.”
Comments
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 subscriptions@creamermedia.co.za.
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