Altair Minerals Completes Premium Priced Placement
Key points
- Completed Tranche 2 Placement raising A$28.2 million
- Endeavour becomes 9.90% shareholder
- Funds to support multi-year exploration program in Guyana
Full summary
Altair Minerals Limited (ASX: ALR) has completed Tranche 2 of its Premium Priced Placement, issuing 258,264,364 shares at A$0.043 per share to Endeavour Mining plc. This placement, along with Tranche 1, raised a total of A$28.2 million, with Endeavour now holding a 9.90% stake in Altair. The funds will strengthen Altair's treasury to approximately A$38 million, enabling the company to execute a multi-year exploration program in Guyana. Altair has also issued a Section 708A Cleansing Notice under the Corporations Act, confirming compliance with relevant provisions.
Guidance
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Outlook
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