UXA Resources (ASX: UXA) has launched a non-renounceable pro-rata rights offer to advance exploration on the company’s copper, uranium and base metals projects in South Australia, New South Wales and Western Australia.
The offer is 10 shares for every 25 held at the 30 August record date, priced at $0.015 per share.
UXA Resources said that the funding injection will boost exploration at several projects, including:
- Dome 5 lead-zinc-silver prospect, Mundi Plains/Junction Dam Option Agreement;
- Polygonum-Mammoth copper-gold prospects, Mundi Plains/Junction Dam Option
- Canning Basin uranium in Western Australia.
The Mundi Plains and Junction Dam base metals project
UXA Resources has an interest in the Mundi Plains and Junction Dam base metals project which borders New South Wales and South Australia.
Importantly - the project includes the Dome 5 MVT style zinc lead discovery made by Teck Australia Pty Ltd in a joint venture with PlatSearch NL in 2007.
UXA Resources has an option agreement with Teck to earn up to 100% of Teck’s interest in a joint venture with PlatSearch and Eaglehawk Geological Consulting Pty Ltd (SA only), who have the right to retain a 20% interest.