PERTH (miningweekly.com) – ASX-listed junior Blackstone Minerals will raise A$2-million in a two-tranche placement to fund exploration at its metals projects in Vietnam, Canada and Western Australia.
The first tranche of the share placement will consist of ten-million shares, priced at 5c each, to raise an initial A$500 000 by May 17. The placement will be made under Blackstone’s existing placement capacity.
The second tranche placement of up to 30-million shares, also priced at 5c each, will be completed following shareholder approval at an annual general meeting scheduled for late June.
Blackstone said that the proceeds from the capital raise would be used to fund exploration at the Ta Khoa nickel project, in Vietnam, the BC cobalt/gold project, in Canada, and the Silver Swan South nickel/gold project, in Western Australia.