logo-loader

King River Copper secures funds for busy exploration schedule

Published: 00:45 30 Nov 2017 EST

sign saying funding
Shares in the company are currently trading at $0.012

King River Copper Ltd (ASX:KRC) has received firm commitments from sophisticated and professional investors to raise $550,000 as part of a share placement.

The placement will see 50 million shares issued priced at $0.011, with settlement expected on 8 December 2017.

The funds enable the company to complete the current round of metallurgical test work and commence scoping work on the Speewah Vanadium/Titanium Project.

The study will review the potential of producing a high purity vanadium pentoxide and titanium dioxide from the current deposit.

READ: King River Copper sees potential for repeat gold at depth

These additional funds will also enable the company to plan and book an aggressive timetable to recommence drilling at the Mt Remarkable Gold Project after the wet season.

Earlier this month, King River intersected 11 metres at 27.9 g/t gold at Mt Remarkable, which sent the share price running.

Ramp Metals Launches Drilling Program in Pursuit of High-Grade Nickel in...

Ramp Metals CEO Jordan Black joined Steve Darling from Proactive to introduce the company to the public domain and share exciting developments in the mining industry. With a background as a geotechnical engineer and experience in venture capital, including a notable role in taking GoldSpot...

24 minutes ago