Share placement raises $1.35 million at $0.02 to fast track Mt Ida exploration
Alt Resources Limited (ASX: ARS) (the Company) is pleased to announce that it has received firm commitments to raise $1,351,400 at $0.02 per share before costs via a two-tranche placement. The share placement was strongly supported and will provide funding for planned exploration at the company’s Mt Ida Projects and for working capital.
Alt Resources CEO, James Anderson, commented “We are pleased to have sufficient funding to focus on increasing our current resource base across the Mt Ida projects. This placement is a strong endorsement of the results we have achieved and the inherent value investors see in Alt Resources. We expect to have strong news flow in the months ahead, starting with a new round of drilling at Shepherds Bush, Forrest Belle and Boudie Rat with results and a potential resource upgrade likely to continue in line with exploration success.”
DJ Carmichael Pty Limited acted as sole Lead Manager for the placement.
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