Completion of Institutional Equity Placement

16 June 2014

Alkane Resources has completed a placement, raising $10.4 million from new shares issued to Australian and international investors. The placement is at 26 cents a share. Funds raised from the placement will supplement existing cash reserves and are intended to be used for:

  • Progression of the Dubbo Zirconia Project (DZP) front end engineering design (FEED) for bankable standard capital and operating costs to assist with project funding
  • Further DZP product development, enhancement and marketing
  • Development and acquisition of certain water resources for the DZP
  • Certain acquisitions of land within the DZP area;
  • Other DZP related expenditures and working capital