Successful Completion of Capital Raising
Sydney, June 3, 2013 AEST (ABN Newswire) - Indochine Mining Limited (
ASX:IDC) is pleased to announce the successful capital raising of $3.9 million via private placement of 55,000,000 new IDC shares at $0.07 per share with existing institutional and sophisticated investors.
The placement is expected to be settled and allotted on Friday, 7 June 2013. The funds will be used for focused drilling of high grade "bonanza" gold zones at the Indochine's Mt Kare Gold-Silver Project in PNG, as well as working capital.
"Indochine's major funds and smaller investors wanted this raising to be as small as possible, and so it was closed at a slight premium, ahead of a resource upgrade this month" said Indochine's CEO, Stephen Promnitz.
Contact
Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com
| ||
|
