TNT Mines reels in $5.25 million in strongly supported placement
The company plans to use proceeds from the placement primarily for drilling at the new Reids North prospect and also for follow-up reverse circulation drilling at Eureka South.
Strong support for the placement is an endorsement of the company’s strategy.
TNT Mines Ltd (ASX:TIN) has received firm commitments from existing and new, institutional and sophisticated investors for a strongly supported placement that has raised A$5.25 million.
The company will issue 35 million new fully paid ordinary shares at a price of $0.15 per share.
Funds will primarily be used for drilling at the new Reids North prospect and also for a follow-up reverse circulation (RC) drilling at Eureka South.