Marindi raises cash for WA exploration

Explorer Marindi Metals will raise A$2.5-million through a share placement, convertible note deed and an entitlement offer to fund exploration programmes at its Forrestania gold and lithium projects, in Western Australia.

The initial fundraising will consist of the placement of 116-million shares, at 1c each, and the issuance of a convertible note with a face value of between A$200 000 and A$300 000, before costs.