CAPITAL MARKETS

Universal placement clears up Pasminco overhang

PERTH-based copper and gold explorer Universal Resources has removed the overhang of Pasminco's 11.75% vendor stake in the company with Australian institutional investors taking up a 15% placement.

Brad Ricks
Universal placement clears up Pasminco overhang

The placement of 8.5 million shares at 9 cents apiece was completed to a number of different investors, raising $765,000 for Universal's ongoing work at its Roseby copper project in Queensland's Mt Isa...

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