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Australian Mines: Raises $5.2M for Sconi | Fintech InShorts: Latest fintech news, analysis by experts

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Australian Mines: Raises $5.2M for Sconi

By Steve Sam

August 26, 2020

Australian Mines (AUZ) has received firm commitments to undertake a $5.2 million placement
To raise the funds, approximately 290.1M new shares will issued to institutional, sophisticated and professional investors at 1.8 cents each
Australian Mines will use the money to advance its Sconi Cobalt-Nickel-Scandium Project in Queensland and for general working capital
As a result, once it fully developed Sconi estimated to become one of the most competitive cobalt-nickel operations in the world
Settlement of the shares expected to occur on September 1 and quotation expected on September 2
Australian Mines is steady in early morning trade, with shares currently trading for 2.2 cents each

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