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Jervois Mining to raise $3.6 million in capital raising

Gold and mineral exploration company Jervois Mining is set to raise $3.6 million through a capital raising to fund the company's projects in Australia.

Under the deal, there will be a non-renounceable pro-rata rights Issue to all shareholders of one New Ordinary Share for every five shares held.

The Issue price will be 0.6 cents, with the capital raising expected to raise $3,689,233 before costs from the Issue of 614,872,096 New Shares.

Some partial underwriting for the Issue may be sought.

The funds raised by this Issue, together with any funds recovered following any exercise of the option by Auzex Resources over the Bullabulling Gold Project, will be used to fund the Company’s important projects and to provide working capital.

Disclosure: The author holds no positions in the company