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ABM Resources NL secures strategic investment from Pacific Road Capital


Wednesday, 12 Mar 2014 06:43pm EDT 

ABM Resources NL:Says that Pacific Road Resources Fund2 (Pacific Road Capital) and ABM have agreed terms for Pacific Road Capital to invest A$19.6 mln in placement to the company at a price of 2.4 Australian cents per share.Placement will be in two tranches and is subject to completion of final legal due diligence and documentation.Completion of Tranche 1 is expected prior to the end of March and Tranche 2 is subject to shareholder approval.Injection of funds by Pacific Road Capital will enable ABM to progress Old Pirate to production, to extend the mining inventory at Old Pirate, undertake a scoping study of nearby Buccaneer gold project and provide working capital. 

Company Quote

0.395
0.0050 +1.28%
28 Aug 2014