Northern Minerals Launches Share Rights Issue in Bid to Raise $26.6 Million

Mining Weekly reported that Northern Minerals has launched a fully underwritten share rights issue to aid in raising funds for their Browns Range Project in Australia, as a component of a plan to raise a total of A$58-million.

As quoted in the market report:

Northern Minerals said on Monday that the rights issue component would include one new share for every two shares held, at an issue price of 20c a share, and one option for every two new shares issued, with an option exercise price of 30c a share and an expiry date of March 31, 2015.

To view the whole Mining Weekly report, click here.