Cape Lambert Resources Ltd (ASX:CFE) has been embraced by investors today, with shares in the company rallying 28% by the close to $0.023 on volume of 20 million.
Cape Lambert today issued 94 million fully paid shares at $0.0425 per share, which are from a placement outlined in January 2016. This raised circa $4 million.
The placement was to UK and European sophisticated investors.
Tony Sage, executive chairman for Cape Lambert, told Proactive Investors exclusively:
"Its fantastic news for the company that investors have put faith in our management by paying a 300% premium to market price in this placement.
"We will now concentrate all efforts on our lithium and uranium assets."
The fundraiser demonstrates international support for the company on the heels of a strong internal vote of confidence from Sage, who acquired more than 29 million shares in an off-market trade last year.
Cape Lambert's next steps will now be eagerly watched by investors.
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