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Australian Potash to raise A$5M for Lake Wells study, Yamarna gold exploration

Australian Potash Ltd. said Aug. 14 that it expects to raise about A$5 million after closing a A$3.0 million oversubscribed share placement of 30 million shares at 10 Australian cents each to institutional, sophisticated and professional investors and launching a A$2.0 million share purchase plan to shareholders.

Proceeds will fund the advancement of the feasibility study on the Lake Wells sulfate of potash project and exploration of its Yamarna gold project, both in Western Australia.