logo-loader
viewSt George Mining Ltd

St George Mining Ltd completes heavily oversubscribed raising

The placement included circa 43.2 million shares at $0.15 with one for five free attaching option exercisable at $0.20 on or before 30 June 2017.

au_st_george_mining_drill_core_from_mad31_showing_pentlandite_vein_358_57b6594539ef4.jpg

St George Mining Ltd (ASX:SGQ) has completed a private placement of ordinary shares that has raised $6.47 million of funding for its exploration projects in Western Australia.

The placement included circa 43.2 million shares at $0.15 with one for five free attaching option exercisable at $0.20 on or before 30 June 2017.

St George has recently been on a massive nickel-copper sulphide mineralisation discovery streak at the Mt Alexander Project.

The project is located 120 kilometres south‐southwest of the Agnew-Wiluna belt which hosts numerous world class nickel deposits.

In 2008, BHP Billiton (ASX:BHP) discovered massive nickel-copper sulphides at Mt Alexander, but then it remained under-explored until it was acquired by St George.

The project is in a favourable location for infrastructure.


Portfolio


Adding to the St George portfolio, is the East Laverton and Hawaii projects.

East Laverton hosts high priority targets for gold and nickel sulphide over three greenstone belts.

The project is located near the two most recent world-class gold discoveries in Western Australia, being the plus 8 million gold ounce Tropicana, and the plus 6 million gold ounce Gruyere.

Hawaii is at an early stage of exploration.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

Quick facts: St George Mining Ltd

Price: 0.15 AUD

ASX:SGQ
Market: ASX
Market Cap: $61.89 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of St George Mining Ltd named herein, including the promotion by the Company of St George Mining Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Economics looking favourable at St George Mining’s ‘phenomenal’ nickel...

John Prineas, executive chairman of St George Mining Ltd (ASX:SGQ), spoke to Proactive London's Andrew Scott while in the City for LME Week 2018. ''We're currently drilling at the Investigators prospect which has a 1.5km strike ... we have massive nickel sulphides all along that strike,...

on 9/10/18

2 min read