Strandline received commitments for AU$50 million via a share placement 

On 06 April 2022, Strandline Resources Limited (ASX: STA) announced that it received firm commitments for AU$50 million through a share placement to institutional, professional, and sophisticated investors at AU$0.43 per share. The Company received significant demand during the Placement bookbuild providing a strong endorsement of Strandline’s mineral sands growth portfolio.

The proceeds will be used to fund the near-term development of Strandline’s Fungoni mineral sands project in Tanzania. It would also support advancing key feasibility studies and approvals for Tanzania’s large-scale Tajiri mineral sands project. These funds will help in the possible future expansion at Strandline’s Coburn mineral sands project in WA.

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