Gindalbie Raises A$175m Institutional Support

GINDALBIE METALS LTD (GBG:AU), an iron-ore producer, has secured the A$175-million institutional component from its A$206-million capital raising.  The company is looking to raise between A$175-million and A$206-million. This amount will be used for the development of the Karara iron-ore project found in Western Australia.

MD Garret Dixon was quoted saying:

“This new institutional support significantly broadens and enhances our share register for the benefit of all shareholders. Gindalbie is now an ASX-200 company, but still has a relatively low level of institutional shareholders.”

Click here to access the entire news