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Impact Minerals Ltd Secures AUD3 Million Placement And Gains Right To Acquire More Of Key Mulga Tank Nickel Project In W.A.


Wednesday, 18 Sep 2013 08:02pm EDT 

Impact Minerals Ltd announced a AUD3 million capital raising through a placement of 78,947,368 shares, at an issue price of AUD0.038 per share, to sophisticated and professional investors to drive the Company's Mulga Tank nickel project in W.A. and the high grade nickel-copper-platinum project at Broken Hill in New South Wales. Funds raised from the placement will be used in part to accelerate the maiden drill programme in November at Mulga Tank. In addition Impact announced that it has secured the right to acquire a greater interest in the licence over the conductors, E39/988 as well as E39/1072, another key exploration licence at Mulga Tank by acquiring a third party’s stake of 20% and 25% respectively. The placement shares will be issued in two tranches. The first tranche comprising 49,074,000 shares will be issued pursuant to Impact’s Listing Rule 7.1 capacity. The second tranche of shares comprising 29,873,368 shares will be issued subject to shareholder approval to be obtained at a general meeting of shareholders to be held on or around October 24, 2013. On completion of the share placement, Impact will have 450,859,920 ordinary shares on issue. 

Company Quote

0.038
0.0010 +2.70%
22 Jul 2014