Sphere Raises $33M for Askaf Project

Sphere Minerals Limited: ASX:SPH, a West African focused Iron ore company, has announced that it has agreed to place 20,654,000 shares at A$1.60. This share will raise gross proceeds of to a total of $33,046,400.

Alexander Burns, Managing Director of Sphere Minerals Limited is quoted saying:

“The Placement was jointly managed by GMP Securities Europe LLP, Euroz Securities Limited and Royal Bank of Canada, and falls within the Company’s 15% placement capacity. The Placement was made to sophisticated and institutional clients in Europe, Australia and North America.”

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