Australian energy company, Blackham Resources (ASX: BLK) has raised $1.5 million by a private placement of 5 million ordinary shares at 30 cents per share to three parties.
The funds will be used for further drilling at Scaddan and Zanthus in Western Australia, as well as further mining studies, lignite upgrading and gasification testwork and optimisation to significantly add to the technical and economic confidence in both projects.
The issue of 5 million ordinary shares falls within the Company’s 15% capacity under ASX Listing Rule 7.1 and consequently, will not require prior shareholder approval.
http://www.proactiveinvestors.com.au/companies/news/6037/blackham-resources-raises-a15m-to-further-scaddan-and-zanthus-projects-6037.html
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