Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


ASX-listed MOD Resources raises A$2.5M in placement

ASX-listed MOD Resources raises A$2.5M in placement to Hong Kong’s Meriton

Feb. 28 (BusinessDesk) - MOD Resources, the ASX-listed gold, copper and silver explorer with permits in the South Island’s Golden Bay region, has raised A$2.5 million in a placement to Hong Kong-based Meriton Capital.

The placement was for 50 million MOD shares at 5 Australian cents apiece, compared to their last trading price on the ASX of 4.8 cents. Meriton now owns 9.6 percent of MOD, the Western Australia-based company said in a statement.

MOD’s Sams Creek Gold subsidiary has an exploration permit for Barrons Flat, which is directly adjacent to the 1.024 million ounce Sams Creek Gold Project in Golden Bay, of which MOD owns an initial 40 percent in a venture with OceanaGold.

The company has two drilling programmes underway at Sams Creek and at the Botswana Copper Project, which lies within Africa’s Kalahari Copper Belt.

MOD shares have fallen 4 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news