Alkane Resources (ASX: ALK) has raised approximately $9.7m (less costs) by the sale of its remaining investment in BC Iron Ltd.
The funds raised will augment the company’s existing cash balances and will be used to progress its core activities (being the Tomingley Gold Project, the Dubbo Zirconia Project and other New South Wales exploration projects).
Alkane was instrumental in the formation of BCI and has been a strong supporter of their rapid progress towards production.
http://www.proactiveinvestors.com.au/companies/news/6469/alkane-resources-raises-a97m-from-sale-of-bc-iron-investment-6469.html
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