Completion of Capital Raising and Welcomes New Institutional Investor: Capital Group
Sydney, Nov 1, 2012 AEST (ABN Newswire) - Indochine Mining Limited (
ASX:IDC) is pleased to announce the successful capital raising of $13.2 million via private placement of 94,242,498 new IDC shares at $0.14 per share with existing institutional and sophisticated investors. In addition, the Company welcomes a major new institutional investor, Capital Group, which is one of the world's largest fund managers with over $1 trillion funds under management.
The placement will be finalised and shares allotted on Tuesday, 6 November 2012. The funds will be used for working capital and activities in connection with the recent drilling identifying "bonanza" gold zones, assaying of completed drill holes, and a resource upgrade.
Ian Ross, the Chairman of Indochine said "the support of major institutional shareholders, including the first time investment by one of the world's largest fund managers, reinforces the much larger potential of the Mt Kare gold/silver project and the Company's approach to deliver this project".
Contact
Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com
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