Polo Resources notes Blackham Resources raises about A$25m
Polo Resources said investee company Blackham Resources has raised about A$25m by placing roughly 25m new A$1 shares to fast-track expansion plans at the 5.1Moz Matilda Gold Project.
Financial Services
16,568.10
16:29 14/11/24
0.08%
13.56
FTSE AIM All-Share
729.76
16:25 14/11/24
n/a
n/a
Polo Resources Ltd. (DI)
1.57p
16:29 28/08/20
0.00%
0.00p
The raising was oversubscribed and received strong institutional support.
It said the placement price represented a 2% gross discount to the five-day volume-weighted average price prior to ASX-quoted Blackham entering into a trading halt on Aug. 17.
The Matilda Gold Project is 100% owned by Blackham.
At 11:55 BST, shares in Polo were up 10.13% to 6.85p.