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- Bryah Resources (BYH) receives firm commitments from sophisticated and professional investors to raise $1.43 million via a placement
- The company will issue around 53 million new shares at an issue price of 2.7 cents, with allotment set to be completed on August 12
- Funds will go towards completing the Olympus EIS program which includes downhole EM, hyperspectral and geochemical analysis and diamond tails on the Windalah deeps project
- As part of being lead manager of the placement, Spark Plus Australia will receive two million unlisted options, exercisable at 5.4 cents, expiring August 12, 2025
- Shares in Bryah Resources are down 6.45 per cent, trading at 2.9 cents at market close
Bryah Resources (BYH) has received firm commitments from sophisticated and professional investors to raise $1.43 million via a placement.
The company will issue around 53 million new shares at an issue price of 2.7 cents, with allotment set to be completed on August 12.
Funds raised by the company will go towards completing the Olympus EIS program which includes downhole EM, hyperspectral and geochemical analysis and diamond tails on the Windalah deeps project, among other activities.
Commenting on the company’s successful capital raising, CEO Ashley Jones thanked the continued support of existing and new shareholders of Bryah.
“Bryah will continue exploration at its Windalah and Olympus copper gold project where we have demonstrated potential for VMS mineralisation,” he said.
“We are delighted that funds raised will also allow us to co-contribute and retain the company’s 49 per cent interest in the Bryah Basin OMH/BYH manganese Joint venture, which continues to develop into a near-term production opportunity.”
As part of the fee payable in connection with their role as lead manager of the placement,
Spark Plus Australia will receive two million unlisted options, exercisable at 5.4 cents, expiring August 12, 2025.
Shares in Bryah Resources were down 6.45 per cent, trading at 2.9 cents at market close.
