West Perth, WA, Australia-Minemakers Ltd. reports that BBY Ltd. has placed 7.7 million ordinary shares in Minemakers to investors. The placement, at a price of A$1.50 per share, was oversubscribed and raised $11.55 million. The investors include offshore and domestic institutional funds and high-net-worth clients of BBY. The funds will be used for pre-feasibility and feasibility studies of the Wonarah rock phosphate project, as well as purchase of long lead-time capital items for Wonarah. Other uses for the funding include other non-phosphate studies for separate fluorite, tungsten, tin, and iron magnetite projects, as well as working capital.
Transparency Across the Fertilizer Value-Chain