By Sheri Kasprzak
New York, April 26 - Mount Burgess Mining NL said it intends to raise A$1,002,500 in a private placement.
The offering includes up to 10,025,000 shares at A$0.10 each.
The proceeds will be used for drilling, metallurgical tests and geophysical programs on the company's base metal and diamond projects in Botswana and Namibia. The remaining proceeds will be used for working capital.
Mount Burgess, based in Perth, Western Australia, is a base metals and diamond exploration company.
| Issuer: | Mount Burgess Mining NL
|
| Issue: | Stock
|
| Amount: | A$1,002,500
|
| Shares: | 10,025,000
|
| Price: | A$0.10
|
| Warrants: | No
|
| Pricing date: | April 26
|
| Stock symbol: | Australia: MTB
|
| Stock price: | A$0.11 at close April 26
|
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