Hazelwood Raises A$15.8 Million For Ferrotungsten Project

Mining Weekly reported Hazelwood Resources (ASX:HAZ) needs to raise some A$15.8-million for its ATC ferrotungsten project in Vietnam.

As quoted in the market news:

Under the entitlement offer, Hazelwood would offer three new shares for every existing, fully paid ordinary share held, at an issue price of 2c a share.

The company said in a statement that in addition to the equity raising, the company had also executed a loan agreement with a Sydney-based private equity fund for a further A$1.5-million, which would be used as bridging finance.