Archer Exploration Limited (ASX:AXE) Raised A$475,000 to Fund Work at Sugarloaf Graphite Deposit and Leigh Creek Magnesite Deposit
Archer Exploration Limited (ASX:AXE) is pleased to announce it has successfully completed a share placement of 2,714,286 fully paid ordinary shares at 17.5cents to raise A$475,000 before costs. The issue has been placed with sophisticated investors by Bligh Capital Pty Ltd. Cash at bank as at 30 June 2011 was A$2.4 million prior to the Share Placement.