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Apollo Minerals raises cash to develop gold and tungsten assets

Hugo Schumann of Apollo Minerals Limited (ASX:AON) talks Proactive Investors through the company’s recent trading halt as three prestigious mining funds came on board as part of a combined A$6 million fundraise.

He describes the quality of the funds that have come in as a ringing endorsement of the project.

Most of the initial expenditure will be put to reopening the world’s highest-grade tungsten mine, Salau at the Couflens project in France.

Apollo has completed the acquisition of Aurenere, a Spanish asset just down strike from its French site.

License applications are progressing while a programme is being designed for drilling in due course.

Initial reconnaissance work there has shown gold grades of up to 33 grams a tonne and 5% WO3.

Quick facts: Apollo Minerals

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ASX:AON
Market: ASX
Market Cap: $7.06 m
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Apollo Minerals Ltd - Mining Capital Conference May 2019

Apollo Minerals Limited's (ASX:AON) Hugo Schumann presents to investors at the Proactive Mining Capital Conference in London. Apollo's continuing to progress restart work at the Salau Tungsten Mine within its Couflens project in southern France. For more information visit...

on 8/5/19

2 min read