Northern Embankment trial at Mardie Project. Source: BCI Minerals
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  • BCI Minerals (BCI) raises $20.64 million from a share purchase plan to ramp up activities at the company’s Mardie Salt & Potash project
  • Around 48 million new shares will be issued
  • BCI was seeking to raise $20 million but used its discretion to accept an extra $640,000 in applications
  • The company also completed a placement recently, raising about $240 million
  • Shares were trading 1.6 per cent lower this morning at 45.2 cents

BCI has raised $20.64 million from its recently announced share purchase plan (SPP).

Around 48 million new shares will be issued under the SPP and will rank equally to existing company shares.

Eligible shareholders were able apply for up to $30,000 of new shares.

The company was seeking to raise $20 million but used its discretion to accept an extra $640,000 in applications.

The funds from the capital raising will be used for construction and ramp up activities at the company’s Mardie Salt & Potash project in the West Pilbara region of WA.

The company also completed a placement recently, raising about $240 million. About 558 million shares were issued at a price of 43 cents.

Trading of the new shares is expected to commence on the 29th of December.

Shares were trading 1.6 per cent lower this morning at 45.2 cents each at 11.20am AEDT.

BCI by the numbers
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