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Gunson Resources extends share purchase plan

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Gunson Resources (ASX:GUN) has extended its share purchase plan to raise up to $1 million by five trading days to 21 November 2014.

The SPP priced at $0.015 per share is expected to fund exploration at its Tanzania and Coburn minerals sands projects.

Proceeds from the SPP will be used for the following:

- Exploration, drilling, resource estimation, and metallurgical work on its Tanzanian mineral sands projects;
- Progressing the Coburn Mineral Sands Project;
- Further exploration activities on its other exploration projects in South Australia and possibly the Northern Territory; and
- Working capital purposes.

The SPP represents a 1% discount to the volume weighted average closing price of shares traded on the ASX in the 5 day period ending on 17 October 2014.

 

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.

Quick facts: Gunson Resources

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ASX:GUN
Market: ASX
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