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Xtract Resources PLC (LSE:XTR) | RNS | Xtract Resources plc - Placing to fund Bushranger phase 2 drilling


·    Contracting 2 drill rigs for an accelerated six-month, 20,000 metre drilling programme at Bushranger
·    Planned recruitment of a quality exploration team and site expansion at Bushranger
·    Objective of drilling is a potential 2 million tonne copper target
 
Placing
The Board of Xtract Resources Plc ( Xtract or the Company ) is pleased to announce that the Company s Broker, Novum Securities, has today conditionally raised
£5,500,000 (before expenses) for the Company following the placement of of 98,214,286 new Ordinary Shares of 0.02p each ( Placing Shares ) at 5.6p ( Placing Price ) per Placing Share (the Placing ). The Placing Shares represent approximately 13.2% of the current issued ordinary share capital of the Company.  The Placing Price is at a discount of approximately 9.6% compared to the closing mid-market price on ....

United States , United Kingdom , City Of , Colin Rowbury , Felicity Geidt , Beaumont Cornish , Roland Cornish , Jon Belliss , Michael Cornish , London Stock Exchange , Beaumont Cornish Limited , Xtract Resources Plc , Company Nomad , European Union Withdrawal , Board Of Xtract Resources Plc , Novum Securities , Company Broker , Ordinary Shares , Placing Share , Placing Shares , Placing Price , Lachlan Fold Belt , South Wales , Phase One , Annual General , Anglo American ,

Investegate |Xtract Resources plc Announcements | Xtract Resources plc: Placing to fund Bushranger phase 2 drilling


·
Contracting 2 drill rigs for an accelerated six-month, 20,000 metre drilling programme at Bushranger
·
Planned recruitment of a quality exploration team and site expansion at Bushranger
·
Objective of drilling is a potential 2 million tonne copper target
 
Placing
The Board of Xtract Resources Plc ( Xtract or the Company ) is pleased to announce that the Company s Broker, Novum Securities, has today conditionally raised £5,500,000 (before expenses) for the Company following the placement of of 98,214,286 new Ordinary Shares of 0.02p each ( Placing Shares ) at 5.6p ( Placing Price ) per Placing Share (the Placing ). The Placing Shares represent approximately 13.2% of the current issued ordinary share capital of the Company.  The Placing Price is at a discount of approximately 9.6% compared to the closing mid-market price on 16 April 2021 of 6.2p per ordinary share. ....

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