16 Nov 2007capital raising announcement● NeutralMajor
Prospectus for an IPO of 18,000,000 shares at 25 cents each to raise $4.5 million. The new coal explorer holds two Queensland projects, Norwich Park and Blackall, acquired from its chairman's and managing director's associated vendors.
What it means for a shareholder
18.0m new shares at A$0.250 to raise about A$4.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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