20
Jun
04:10
Magnetite Mines raises funds via entitlement offer
Australian miner Magnetite Mines is raising up to AUD 5 million ($3.33m) via an entitlement offer, with funds to be used for working capital, Kallanish notes.
The firm says in a statement it is undertaking a 1 for 6 pro rata non-renounceable entitlement offer at AUD 0.31 per share to raise the fund.
The issue price under the entitlement offer represents a discount of 16.1% to the company’s 15-day volume-weighted average price VWAP on ASX of AUD …
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