PERTH (miningweekly.com) – Bauxite developer Australian Bauxite (ABx) has raised A$3.25-million through the placement of 32.5-million shares to sophisticated investors.
The placement was priced at 10c a share, and included one attaching option for every share issued, with an exercise price of 20c each before the end of May 2023.
“We are delighted with the support for the placement from our directors, existing shareholders and new investors. The offer was fully subscribed,” said ABx MD and CEO Ian Levy
“With the proceeds of this capital raise, ABx is now well funded to support the development of the aluminium fluoride pilot plant by its subsidiary ALCORE and continue its investigation of rare earth elements.”