BREAKER Resources has confirmed it has raised A$10 million, taking the junior\u2019s working capital position up towards a more than healthy $18-19 million ahead of a maiden gold resource estimate for its Lake Roe project later this year.<\/p>\n
The stated justification for the raising was a stock standard \u201cto advance\u201d work at Lake Roe.<\/p>\n
The raising wasn\u2019t particularly surprising given the strong share price rise enjoyed by Breaker in recent times, though managing director Tom Sanders told\u00a0MNN<\/em>\u00a0\u201cwe don\u2019t want to discuss internal strategies\u201d.<\/p>\n
The $10 million raised will be added to with a $1.5 million on offer in a SPP for existing Breaker shareholders.<\/p>\n
Breaker started July with $7.4 million, with a budgeted spend for the current quarter of $2 million.<\/p>\n
As previously widely publicised, the raising was priced at 70c.<\/p>\n
Shares in Breaker were down 4% to 71c in morning trade, capitalising the company at $91 million ahead of the issuing of the new stock.<\/p>\n
The stock was fetching about 20c 12 months ago.<\/p>\n","protected":false},"excerpt":{"rendered":"
MiningNews.net BREAKER Resources has confirmed it has raised A$10 million, taking the junior\u2019s working capital position up towards a more than healthy $18-19 million ahead of a maiden gold resource estimate for its Lake Roe project later this year. The stated justification for the raising was a stock standard \u201cto advance\u201d work at Lake Roe. […]<\/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":[1],"tags":[],"yoast_head":"\n