Ora Banda Mining: Successfully raises $51.7 million
- Ora Banda Mining (OBM) has raised $51.7 million through a successful placement and entitlement offer
- The company will also raise an additional $3.3M in capital via a fully underwritten retail entitlement offer, which will open on July 10
- Ora Banda first signalled it was looking at a capital raise venture when it entered a trading halt on July 3, 2020
- Under the terms of both deals, shares will issued at a price of 23 cents per share
- The $55M will spent on recommencing production at its Davyhurst Gold Project in WA, as well as further exploration activity
- Shares in Ora Banda closed up 18.6 per cent today at 30 cents per share
