Australian Mines plans SPP for Sconi

12th June 2019 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Junior Australian Mines is hoping to raise A$5-million through a share purchase plan (SPP) to advance its Sconi cobalt/nickel/scandium project, in Queensland.

Under the SPP eligible shareholders would be able to subscribe for up to A$15 000 of additional shares in the company, with the new shares to be issued at a 20% discount to the five day volume weighted average share price before the date of issue.

The SPP will be underwritten to A$5-million by Pattersons Securities, who is acting as lead manager and underwriter.

The SPP will close on July 15.