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Aus Tin Mining (ASX:ANW) - Executive Director, Nicholas Mathers
Executive Director, Nicholas Mathers
Source: The Northern Miner
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  • Aus Tin Mining (ANW) has received firm commitments from a range of investors for the placement of $2 million
  • $1.5 million of the funds were raised with the assistance of 180 Markets, which will receive a 6 per cent placement fee for its services from ANW
  • Aus Tin Mining is now in the process of finalising the collection of funds, with the allotment of shares scheduled to take place by tomorrow
  • The $2 million raised will add to the company’s existing treasury of close to $1 million, which the company says puts it in a strong position to move forward with various initiatives
  • Aus Tin Mining is up 50 per cent, trading at 0.2 cents

Aus Tin Mining (ANW) has received firm commitments from a range of professional and sophisticated investors for the placement of $2 million.

The company is an Australian tin producer and junior mineral exploration company, with seven projects currently under its belt.

$1.5 million of the funds were raised with the assistance of 180 Markets, Australia’s newest capital raising platform. Aus Tin Mining will pay 180 Markets a 6 per cent placement fee for its services.

Aus Tin Mining is now in the process of finalising the collection of funds, with the allotment of shares scheduled to take place by tomorrow at the latest.

The $2 million raised will add to the company’s existing treasury of close to $1 million. The company says this puts it in a strong position to continue with the restoration of its balance sheet and will allow it to move forward with various initiatives at its tin project for the remainder of 2021.     

In other news, the company is also close to acquiring a stage one interest in the Ashford Coking Coal Project in northern NSW.  

The Ashford coking coal project, located around 50 kilometres west of the company’s Taronga tin project, is estimated to hold around 14.8 million tonnes of semi-hard coking coal.

Aus Tin Mining is up 50 per cent, trading at 0.2 cents at 2:23 pm AEDT.


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