JOHANNESBURG (miningweekly.com) – ASX-listed Azure Minerals has secured A$15-million to advance exploration and development studies at the Alacrán silver and gold project, in Mexico.
The company reported on Monday that it would issue 395-million shares at A$0.038 to institutional and sophisticated investors in two tranches. One option, excercisable at A$0.055, would be offered for every two shares subscribed.
Azure also announced a share purchase plan to existing shareholders to raise a further A$3-million.
MD Tony Rovira reported that the placement had received strong support from existing shareholders and institutions in North America, Europe and Australia.
Edited by: Creamer Media Reporter
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