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Mincor raising A$9M to fund nickel exploration in Western Australia

Mincor Resources NL plans to raise A$9 million to fund exploration across its Kambalda nickel portfolio in Western Australia, it said Dec. 13.

The company secured firm commitments from investors to raise A$6 million via the issuance of 18,750,000 shares at 32 cents apiece, and will also offer existing eligible shareholders the opportunity to take part in a share purchase plan on the same terms to raise a further A$3 million.

Mincor seeks to issue the placement shares by Dec. 19.