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Alkane Resources Ltd announces completion of institutional equity placement


Sunday, 15 Jun 2014 07:22pm EDT 

Alkane Resources Ltd:Completes placement to institutional and sophisticated investors to raise about A$10.4 mln of additional capital.Credit Suisse (Australia) Ltd and Petra Capital Pty Ltd were joint-lead managers of placement.Settlement of placement is scheduled to occur on June 19, and new shares are expected to be allotted and begin trading on June 20.Funds raised from placement will supplement existing cash reserves and are intended to be used for.Progression of Dubbo Zirconia poject (DZP) front end engineering design for bankable standard capital and operating costs to assist with project funding.Further DZP product development, enhancement and marketing.Development and acquisition of certain water resources for DZP.Certain acquisitions of land within DZP area.Other DZP related expenditures; and.General working capital requirements including fees associated with offer. 

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