Savannah Resources has raised about £3.91-million through the issue of about 74.43-million shares to new and existing investors at a placing pricing of 5.25p a share. Funds will also be invested in advancing the prefeasibility study and on the commissioning of a pilot plant at Savannah’s Mutamba heavy mineral sands project, in Mozambique.
“With this placement we are well positioned to move confidently into 2018,” CEO David Archer commented on Wednesday. (source: miningweekly.com)
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