Apollo Minerals Ltd (ASX:AON) has completed the placement of shortfall shares by issuing about 67 million shares at 2.5 cents each under its 1-for-1 non-renounceable entitlements issue.
In accordance with the terms of the $4.2 million entitlements issue, the directors have exercised their discretion to offer the shortfall securities to nominated parties.
With the shortfall now complete, Apollo is in a strong financial position to progress with its planned exploration programs at the Kroussou Project in Gabon which will focus on defining a large scale, shallow (open-pittable), high grade zinc-lead mineral resource.