By Devika Patel
Knoxville, Tenn., Aug. 31 - Barra Resources Ltd. said it completed a A$3.5 million oversubscribed private placement of shares.
The company sold ordinary shares at A$0.125 each via lead manager Patersons Securities Ltd.
Proceeds will be used to step up nickel sulphide drilling at Mount Thirsty and for pre-feasibility work and infill drilling at the Phillips Find Gold Project.
Barra Resources is an Applecross, Australia-based gold, nickel and cobalt exploration and production company.
| Issuer: | Barra Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$3.5 million
|
| Price: | A$0.125
|
| Warrants: | No
|
| Manager: | Patersons Securities Ltd.
|
| Settlement date: | Aug. 31
|
| Stock symbol: | Australia: BAR
|
| Stock price: | A$0.155 at close Aug. 31
|
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