Small cap explorer Strategic Energy launches placement
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Small cap mineral explorer Strategic Energy Resources was fronting funds on Monday morning, raising money for drilling at two of its copper and gold projects.
Strategic Energy Resources launched a capital raising on Monday.
Louise Kennerley
The company was seeking about $2 million via a placement of new shares, according to terms that were sent to fund managers.
The shares were being offered to potential investors at 4.3¢ each. Strategic Energy’s shares last traded at 5.7¢.
Money raised would be used for drilling and geophysics activities at the company’s East Tennant and Canobie District copper and gold projects, in the Northern Territory and Queensland, respectively.