Liontown raising for imminent drilling
21st Aug 2012
AUGUST 21: Liontown Resources is to raise up to $A3.43M to fast-track exploration drilling at its Jubilee Reef gold project in Tanzania, East Africa.
The money will be used to underpin a major new 12,000m RC and aircore drilling program set to begin next week. Liontown is earning up to 75% in Jubilee Reef, with previous drilling at the Masabi Hill and the Shangaza/Panapendesa prospects confirming potential for economic mineralisation.
The raising is a 1-for-3 pro-rata non-renounceable rights issue to existing shareholders at 3.5cps with 1 free attaching new option for every 3 new shares.
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