Magnetic secures $6.9m to advance Lady Julie Gold Project in WA

Magnetic secures $6.9m to advance Lady Julie Gold Project in WA

From mining-technology.com

Magnetic Resources has secured firm commitments to raise A$10m ($6.92m) in a placement to sophisticated and institutional investors to aid commercialisation of its Lady Julie Gold Project (LJGP) near Laverton, Western Australia (WA). The single-tranche placement, which was oversubscribed, will fund resource definition drilling, deeper drilling for resource expansion, exploration drilling and ongoing feasibility work. These proceeds will also be used to fulfil general working capital requirements.The placement was backed by both new and existing investors, which include various specialist resources funds. It involves ... (full story)

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