Stavely to Fast-Track Victorian Gold and Copper-Gold Exploration Following $1.4M PlacementJune 22, 2015
Oversubscribed $1.4M share placement completed with rights issue launched to raise up to a further $2M to follow up recent positive exploration results
Stavely Minerals Limited (ASX Code: SVY) is pleased to announce a capital raising of up to $3.4 million to fast-track exploration at its portfolio of porphyry copper, gold and VMS copper-gold projects in Western Victoria.
The Company has successfully raised $1.4 million before costs through a share placement at 25 cents to sophisticated and institutional investors. In addition, Stavely has announced its intention to undertake a 1-for-10 rights issue, also at 25 cents, to raise up to a further $2 million to allow existing shareholders to participate in the capital raising.