{"id":1373,"date":"2019-11-13T14:15:35","date_gmt":"2019-11-13T06:15:35","guid":{"rendered":"https:\/\/www.breakerresources.com.au\/?p=1373"},"modified":"2020-01-02T14:19:28","modified_gmt":"2020-01-02T06:19:28","slug":"breaker-to-ramp-up-bombora-drilling-with-us-fund-on-board","status":"publish","type":"post","link":"https:\/\/www.breakerresources.com.au\/breaker-to-ramp-up-bombora-drilling-with-us-fund-on-board\/","title":{"rendered":"Breaker to ramp up Bombora drilling with US fund on board"},"content":{"rendered":"

Australian Mining<\/h3>\n

Breaker Resources has agreed to a $8 million share placement to Electrum Group\u2019s strategic opportunities fund to ramp up drilling at the Lake Roe gold project in Western Australia.<\/p>\n

Electrum Group, a United States-based precious\u00a0metals investment manager, will become Breaker\u2019s largest shareholder following the placement.<\/p>\n

The placement consists of over 23 million newly issued shares valued at 35 cents per share.\u00a0 Proceeds will fund reverse circulation (RC) and diamond drilling at Lake Roe\u2019s Bombora resource in the Goldfields region.<\/p>\n

Electrum is expected to own approximately 9.95 per cent of the issued Breaker shares once the placement closes. It will also have the right, subject to regulatory approval, to nominate a person with strong links to US capital markets to Breaker\u2019s board.<\/p>\n

\u201cBreaker welcomes the support of a prominent North American institutional fund and their support is seen as an expression of confidence in the growth potential of the company\u2019s Lake Roe gold project,\u201d Breaker
\nreported in an ASX statement.<\/p>\n

\u201cThe placement follows a strategic review undertaken by Breaker aimed at unlocking the full value of the company\u2019s Lake Roe gold project.<\/p>\n

\u201cAs a result, the board has formed the view that the best way to deliver value to shareholders is to expand the resource base through further drilling.\u201d<\/p>\n

Breaker has now put the Lake Roe pre-feasibility study on hold after its decision to partner with Electrum, as the companies share the objective of advancing the project along the value chain through expansion of its existing resources. RC and diamond drilling are scheduled to start at Lake Roe in the coming week.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australian Mining Breaker Resources has agreed to a $8 million share placement to Electrum Group\u2019s strategic opportunities fund to ramp up drilling at the Lake Roe gold project in Western Australia. Electrum Group, a United States-based precious\u00a0metals investment manager, will become Breaker\u2019s largest shareholder following the placement. The placement consists of over 23 million newly […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[9],"tags":[],"yoast_head":"\nBreaker to ramp up Bombora drilling with US fund on board - Breaker Resources NL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.breakerresources.com.au\/breaker-to-ramp-up-bombora-drilling-with-us-fund-on-board\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Breaker to ramp up Bombora drilling with US fund on board - Breaker Resources NL\" \/>\n<meta property=\"og:description\" content=\"Australian Mining Breaker Resources has agreed to a $8 million share placement to Electrum Group\u2019s strategic opportunities fund to ramp up drilling at the Lake Roe gold project in Western Australia. 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