- Bryah has announced it will raise $2 million in placement for its Bryah Basin and Gabanintha Projects in Western Australia
- The board of Directors have also committed to collectively subscribe to $150,000 at 6¢ per share
Bryah Resources has announced it will raise $2 million in placement for its Bryah Basin and Gabanintha Projects in Western Australia.
The share price for the placement will be issued at 6¢ per share and it has been strongly supported by new and existing shareholders
The board of Directors have also committed to collectively subscribe to $150,000 at 6¢ per share.
The funds from the placement will go towards following up high priority gold and copper prospects at Bryah Basin and Gabanintha Projects.
The Bryah Basin is located approximately 100-150km north of Meekatharra in Western Australia. The Company’s tenements and manganese mineral rights cover 880km² over parts of the western Bryah Basin.
The Bryah Basin also hosts several historical Manganese mines, the largest being the Horseshoe South Manganese mine
Gabanintha Project is located approximately 40km south of the town of Meekatharra. Bryah has mineral rights to tenements covering 200km² in the project.
Managing Director Neil Marston is pleased with the response to the placement.
“The successful completion of this placement will see the Company well-funded with $2 million raised for renewed exploration efforts on the company’s excellent gold and copper-gold targets,” he said.
The company is waiting for the placement to be approved by shareholders.
“We look forward to a busy programme of gold and copper-gold exploration in the Bryah Basin and at Gabanintha over the coming months,” Neil added.