Perth, July 2, 2008 (ABN Newswire) - Sultan Corporation (ASX:SSC) is pleased to announce $994,200 was raised in a placement of 41,425,000 shares at 2.4 cents to sophisticated / professional investors.
The raised funds consolidate Sultan Corporation's strong financial position. It will allow Sultan to:
- finalise the bankable feasibility study (BFS) of the John Fardy Prospect; and
- ensure progression to mining is optimised in regards to time frames, engineering and expenditures.
About Sultan Corporation Limited
Sultan Corporation Limited is an Australian base metals explorer and emerging zinc producer. Sultan’s primary objective is to deliver long-term shareholder value by rapidly becoming a mid-tier resource company. The company strives to achieve this through the discovery, acquisition and development of new economic mineral deposits.
Contact
Derek Lenartowicz Managing Director Tel: +61-8-6365-4519 Fax: +61-8-9388-6040
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