03
Oct
03:01
Mallee Resources raises $7.28m for Avebury nickel project
Australian miner Mallee Resources has raised AUD 11.3 million ($7.28m) via the placement of 26.87m shares at AUD 0.42/share to sophisticated investors, Kallanish notes.
The placement, together with existing cash resources and expected sales revenues, are anticipated to fund the company’s operations as it commences commercial production of nickel concentrates from the Avebury project.
The placement follows the issuance of AUD 7.7m worth of shares earlier in…
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