Alkane set to raise A$54.8m for exploration and development

ASX-listed Alkane Resources will raise up to A$54.8-million through a share placement and rights issue to accelerate exploration and development activities in the Tomingley Corridor, in New South Wales.

The company on Thursday told shareholders that it had received commitments to raise an initial A$20-million through an institutional placement, and would issue more than 36.36-million shares.