Stavely Minerals Limited (ASX: SVY) has successfully secured binding commitments for a placement, raising AU$3.55 million from institutional and sophisticated investors. The placement was offered at AU$0.09 per share, and for every two placement shares, one placement option will be provided with a strike price of AU$0.15 and an expiry date of 30 June 2024. Shareholder approval at General Meeting is required for the listing of placement options. Excluding proposed director participation, the placement shares will be issued.
The funds raised will be allocated towards exploration activities, resource definition drilling, and working capital for Stavely Minerals' projects, including the Stavely Copper-Gold Project in Western Victoria and the Hawkstone Nickel-Copper-Cobalt Project in the East Kimberley region of Western Australia. A General Meeting will be held promptly to seek shareholder approval for the proposed director participation.
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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.
