East Africa Resources Completes Shortfall Share Placement For Madaba Project
News: ASX-listed East Africa Resources has completed the placement of 34,050,005 shares to raise AUD340,500 (US$314,850). The placement will fulfil the shortfall in the company's recent share issue. The company will use the fund for exploration activities at its Madaba uranium project in the Selous Game Reserve, Tanzania. Additionally, the National Environmental Management Council (NEMC) of Tanzania has recommended a preliminary environmental assessment for the project in place of a complete assessment.