Argonaut Resources: Raises $1.4m for exploration and restoration

Argonaut Resources Raises $1.4m for exploration and restoration

• Argonaut Resources (ARE) receives commitments to raise $1.4 million via a share placement
• The money will be raised through the issue of roughly 933.3 million new fully-paid ordinary shares to sophisticated and professional investors at 0.15 cents each
• This price represents a 6.6 per cent premium to Argonaut’s 15-day volume-weighted average price of 0.14 cents
• ARE will use the money to fund exploration at the Darson pegmatite swarm in Western Australia and restore the Lumwana West licence in Zambia
• Argonaut ends the day in the grey to close at 0.2 cents