https://www.miningweekly.com
Copper|Exploration|Gold|PROJECT|Projects|Surface|Drilling
Copper|Exploration|Gold|PROJECT|Projects|Surface|Drilling
copper|exploration|gold|project|projects|surface|drilling

Zenith sets sights on A$5m raise

7th July 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Zenith Minerals will raise A$5-million in an oversubscribed share placement to institutional and sophisticated investors, to accelerate exploration at its core gold projects.

The junior company on Tuesday noted that 51-million new shares would be issued at a price of 10c each, representing a 13% discount to Zenith’s last trading price on the ASX.

The shares will be issued under the company’s existing placement capacity.

“We are very pleased by the significant support for the placement, reflecting strong investor interest in the company, its gold exploration projects and the optinality that our wide exploration portfolio provides,” said MD Mark Clifford.

He noted that the funds raised would enable Zenith to progress an active exploration programme over the coming period.

Drilling was specifically planned for the Red Mountain gold project, in Queensland, and the Split Rocks gold project, in Western Australia, while surface geochemical programmes at the company’s Flanagans gold and Develin Creek copper/zinc project, both in Queensland, have also started.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.104 0.137s - 90pq - 2rq
Subscribe Now