Perth, July 2, 2008 AEST (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.
Contact
Derek Lenartowicz
Managing Director
Tel: +61-8-6365-4519
Fax: +61-8-9388-6040
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