Burley Minerals Secures Funding to Advance Pilbara Iron Ore Exploration
Burley Minerals Limited (ASX: BUR) has announced an AU$1.0 million capital raise to accelerate exploration activities at its Cane Bore Iron Ore Project in Western Australia’s Pilbara region. The funding package includes an AU$0.7 million placement to sophisticated and institutional investors at AU$0.023 per share, alongside a Share Purchase Plan (SPP) targeting approximately AU$0.3 million from eligible shareholders. The issue price was set at a level approximately 8.0% below the company’s most recent closing share price.
The company stated that proceeds from the raising will primarily support the maiden drilling program at the Cane Bore Project, located near key infrastructure and the Port of Ashburton. Funds will also contribute toward exploration at the Chubb Lithium Project in Québec, Canada, potential acquisition opportunities, and general working capital requirements.
Burley’s management highlighted that heritage surveys and drilling approvals are progressing, enabling the company to prepare for drilling mobilisation in the near term.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Burley Minerals Secures Funding to Advance Pilbara Iron Ore Exploration
Burley Minerals Limited (ASX: BUR) has announced an AU$1.0 million capital raise to accelerate exploration activities at its Cane Bore Iron Ore Project in Western Australia’s Pilbara region. The funding package includes an AU$0.7 million placement to sophisticated and institutional investors at AU$0.023 per share, alongside a Share Purchase Plan (SPP) targeting approximately AU$0.3 million from eligible shareholders. The issue price was set at a level approximately 8.0% below the company’s most recent closing share price.
The company stated that proceeds from the raising will primarily support the maiden drilling program at the Cane Bore Project, located near key infrastructure and the Port of Ashburton. Funds will also contribute toward exploration at the Chubb Lithium Project in Québec, Canada, potential acquisition opportunities, and general working capital requirements.
Burley’s management highlighted that heritage surveys and drilling approvals are progressing, enabling the company to prepare for drilling mobilisation in the near term.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au