Canyon Resources To Raise AUD315,000 For Bauxite Exploration

News: ASX-listed Canyon Resources will raise up to AUD315,000 (USD294,818) through a placement of shares to support exploration at its Birsok bauxite project in Cameroon. The firm will issue 7mn new shares at AUD0.045 (USD0.042) each, with free attaching options having an exercise price of AUD0.06 (USD0.056) each and expiry date of January 31 2017. The firm has recently initiated first phase drilling at its 75% owned Birsok project, targeting high grade DSO bauxite mineralisation.

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Related sectors of this article: Mining
Geography: Cameroon, Australia

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