Impact Minerals Limited is pleased to announce an oversubscribed A$2.59 million capital raising through a placement of 78,423,516 shares at an issue price of 3.3 cents per share to sophisticated and professional investors to fund drill programmes at the Company’s high grade precious and base metal Commonwealth and Broken Hill Projects in New South Wales.
Managing Director of Impact, Dr Mike Jones said:
“This is an outstanding result for Impact and its shareholders in this very difficult time for junior exploration companies. We were looking to raise between $2 million and $2.5 million and so to close oversubscribed is a testament to the great results we have got at our New South Wales projects. We are now fully funded to drill our exciting targets for high grade mineralisation at the Commonwealth and Broken Hill Projects. Ground preparation work is already in progress at Commonwealth in order that we can start drilling as soon as possible.”
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