Proactive Investors - Run By Investors For Investors

Siburan Resources to raise exploration and development capital

Siburan Resources to raise exploration and development capital

Siburan Resources (ASX: SBU) has appointed Melbourne-based JCL Capital as its capital advisor to seek investors for its planned $310,000 placement.

Proceeds from the issue of 15.5 million shares priced at $0.02 each will be applied towards the exploration and development of current projects and pursuing new resource opportunities.

JCL will also act as Lead Manager for a proposed one for one non-renounceable underwritten pro rata rights issue priced at $0.01 per share to raise about $1.19 million.
   
The company has conducted geological mapping which included the search for old workings and adits at its Endeavour Antimony and Gold Project located about 20 kilometres north of Picton on New Zealand’s South Island.
 
Drill applications for the Kirwan Tungsten and Gold Project in New Zealand are expected to be granted. Preparation for drilling is also continuing at the Canegrass Gold Project at Kalgoorlie, Western Australia.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full SBU profile View Profile

Siburan Resources Timeline

Newswire
September 30 2014

Related Articles

Project map showing two JORC resources
January 21 2019
The project has upside potential for larger porphyry copper‐gold discoveries.
1547726049_zinc-periodic-3.jpg
January 17 2019
Constantine Metals has a broad portfolio of assets in Alaska and Ontario
Drilling is underway at Apollo Hill project
03:25
Apollo Hill Gold Project in the Eastern Goldfields is the key focus.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use