Northern Minerals, which operates the Browns Range heavy rare earth pilot plant in Western Australia, has unveiled plans to raise A$22-million.
The company will raise A$15-million by way of a placement and is undertaking an one for thirteen accelerated nonrenounceable entitlement offer at A$0.045 a share to raise A$6.95-million.
The entitlement offer will involve the issue of about 154 451 564 new shares in the company.