Perth, May 26, 2008 AEST (ABN Newswire) - Emerging nickel producer Nickelore Limited (ASX: NIO) is pleased to announce completion of the Share Purchase Plan, which raised a total of $0.25 million via the issue of 3,621,467 fully paid ordinary shares. In addition, the Company has raised a further $0.27 million from the sale of listed investments at a profit.
The Company previously announced in April 2008 the raising of up to $1 million, from the sale of the nickel rights in the Bardoc Project to Minara Resources Limited and the recent placement. These raisings are respectively subject to the terms of the sale agreement and any requisite shareholder approvals. The Company has announced total capital raisings of up to $1.52 million during the current quarter.
The Company will continue to seek to raise further funding for the Canegrass Nickel Cobalt Project through various routes including private placements with potential cornerstone investors and divestment of non-core assets.
Contact
Iggy Tan - Managing Director
Tel: +61 8 9481 2433
email: iggy@nickelore.com.au
John Nayton - External Affairs
Tel: +61-422-414-983
email: naytoncom@bigpond.com
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