Anglo Australian Resources NL (ASX:AAR) 43,000,000 Fully Paid Shares To Be Placed At 3.5 Cents Per Share
Perth, Sep 9, 2010 AEST (ABN Newswire) - Anglo Australian Resources NL (
ASX:AAR) (PINK:AAURF) (AAR) is pleased to announce that it has arranged to place approximately 43,000,000 fully paid shares at a price of 3.5 cents per share to sophisticated and professional investors.
The placement will raise approximately A$1.5 million, before placement expenses, and the funds will be used for:
1) development studies for the Koongie Copper Zinc Project;
2) exploration drilling programmes at the Koongie Copper Zinc Project;
3) exploration drilling programme at the Feysville Gold project; and to
4) supplement working capital.
The placement was arranged by Bell Potter Secturities.
This Announcement will end the Trading Halt requested on 7 September 2010.
About Astral Resources NL
Astral Resources NL (ASX:AAR) is a Perth based gold exploration & base metals company listed on the Australian Securities Exchange.
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