Perth, July 3, 2008 AEST (ABN Newswire) - ABM Resources NL (ASX:ABU) is pleased to advise that it has received funds for the balance of 19 Million shares to complete the previously announced capital raising of 40 million shares at 10 cents per share to clients of Australian stockbroking firms and existing shareholders to raise a total of $4 million.
The funds raised from the placement will be used to fund:
- Exploration of the highly prospective Mimosa gold project, ongoing exploration at the base metals discovery at Erayinia and possible exploration at other projects in ABM's asset portfolio
- Working capital
About ABM Resources NL
ABM Resources (ASX:ABU) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
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