- Junior explorer Shree Minerals (SHH) has received firm commitments for a $1.2 million placement to professional and sophisticated investors
- The company will use the money to progress exploration across its portfolio
- All shares will offered at 0.6 cents, representing a 7.1 per cent discount to the 10-day volume-weighted average price
- The company will also progress re-permitting of Nelson Bay River iron project to potentially recommission the extant mine at the site
- It’s expected a shareholder meeting will held around the end of September to approve the last portion of the placement
- Shree Minerals closed Thursday’s session 33.3 per cent higher at 0.8 cents per share
