ASX listed minerals exploration and development company Rex Minerals has raised A$50 million to fund pre-development activities at its wholly owned Hillside Copper Project in South Australia and to continue exploration activities at its Hog Ranch Gold Property in Nevada, USA.
Rex’s Managing Director & CEO, Richard Laufmann, said the successful completion of the $50 million placement was a significant milestone for the company and for the development of the Hillside Copper Project.
“A strong appetite from institutional investors reflects support for the development thematic to be a part of this nation-building project,” Mr Laufmann said.
“The funds raised place the Company in a great position to begin pre-development at Hillside whilst progressing towards a Final Investment Decision for Stage 1 late next year, as well as pursuing additional value at Hog Ranch.
“We would like to thank existing and new shareholders for their support.”
