After the successful placement of A$1.0 million for the Dart Mining (ASX: DTM) Unicorn molybdenum-copper-silver project, the company has launched a A$2.25 million sub-underwritten renounceable rights issue.
Patersons was the lead manager for the placement and will also manage the rights issue, and has received commitments for the first $1.0 million.
Both the placement and rights issue are priced at $0.065, with the company last trading at $0.074.
The partial underwriting of the rights issue is subject to finalisation of an underwriting agreement between the Dart and Patersons.
In September the company announced high grades of molybdenum, of up to 0.63%, at the Unicorn project in north east Victoria.