Small cap mineral explorer Strategic Energy Resources was fronting funds on Monday morning, raising money for drilling at two of its copper and gold projects.
Strategic Energy Resources launched a capital raising on Monday. Louise Kennerley
The company was seeking about $2 million via a placement of new shares, according to terms that were sent to fund managers.
The shares were being offered to potential investors at 4.3¢ each. Strategic Energy’s shares last traded at 5.7¢.
Money raised would be used for drilling and geophysics activities at the company’s East Tennant and Canobie District copper and gold projects, in the Northern Territory and Queensland, respectively.
The two projects are 100 per cent owned by Strategic Energy and are the company’s two flagship projects.
Funds were told that the offer had been cornerstoned by clients of Fresh Equities.
Bids into the placement were due by midday on Wednesday.
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January 25, 2021 at 05:44AM
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Small cap explorer Strategic Energy launches placement - The Australian Financial Review
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