Elixir Energy Ltd (ASX:EXR) MD Neil Young tells Proactive the company has received binding bids to raise $6.5 million via a placement to institutional and sophisticated investors. The funds will primarily used to expand its imminent Daydream-2 stimulation and testing program at the Grandis Gas Project in Queensland’s Taroom Trough. This will include pursuing new options arising from the recent free gas flow which was announced last week.
Elixir Energy expands Daydream-2 program following cash injection
