18
Aug
03:13
Mallee Resources raises funds for Avebury nickel project
Australian miner Mallee Resources has issued a prospectus to raise between AUD 20 million ($13.86m) and AUD 70m via the issuance of ordinary shares at a price of AUD 0.70 per share, for the primary purpose of bringing the Avebury nickel project back into production, Kallanish notes.
While the minimum funding of AUD 20m achieves these aims, the firm says an investment of AUD 70m optimises the Avebury mine including allowing for capacity expansion, exploration to en…
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