Pacifico raises A$4m for Sorby Hills buy

ASX-listed Pacifico Minerals is hoping to raise A$4-million through a share placement to finalise the acquisition of a majority interest in the Sorby Hills base metals project, in Western Australia.

The company will issue some 666-million shares, at a price of 0.6c a share over two tranches to sophisticated and processional investors, with the first tranche consisting of 410-million shares to be issued under Pacifico’s existing placement capacity.