Media Room

Strike raises funds for WA hunt

ASX-listed Strike Energy has completed a A$12-million share placement to fund drilling in Western Australia.

The company on Thursday said that it would issue more than 184.6-million shares at a price of 6.5c each, to profession and sophisticated investors, with the shares placed under Strike’s existing placement capacity.

South32 joins the Nicholson hunt

Diversified miner South32 has signed a A$6-million earn-in agreement over ASX-listed Superior Resources’ Nicholson base metals project, in Queensland.

Under Stage 1 of the earn-in agreement, South32 would sole fund an initial A$2-million, or 4 000 m of drilling within the first 12 months of the agreement, with funding to start immediately.