Strike Resources: Raises $1.8M in “substantially oversubscribed” placement
- Junior mineral explorer Strike Resources has successfully raised $1.8 million in a “substantially oversubscribed” share placement
- The company raised the funds through a 4.5-cent share placement, which represents a discount of 15 per cent to its last closing share price
- Strike is targeting first production before the end of this year, and in this regard is actively advancing the project
- The new funds will used to develop the Paulsens East Iron Ore Project in WA
- Strike Managing Director William Johnson said the company is aiming to get first production up and running before the end of the year
- Shares in Strike gained nearly 10 per cent today, closing worth 5.8 cents each
