Strandline raises A$5.2m for Tanzanian projects

Mineral sands developer Strandline Resources will raise A$5.2-million from the placement of more than 651-million shares to institutional and sophisticated investors. Strandline will issue the shares in two tranches, with the first 441.3-million to be placed under the company’s existing capacity, with the remaining 209.9-million shares subject to shareholder approval.