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Monax Mining places shortfall to raise full A$1.5M of rights issue

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Monax Mining places shortfall to raise full A$1.5M of rights issue

Monax MiningLtd. said on July 20 that it has completed the placement of itsrights issue shortfall to sophisticated investors to raise approximatelyA$914,000. It has now raised just over the originally targeted A$1.5 million.

The company's 1-for-2 rights issue initially closed with about 40% ofshares taken up.

Monax plans to start detailed sampling programs at itsnewly acquiredLitchfield lithium project in Australia's Northern Territory and the Croydongold project in the next weeks.