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Equity raised by Western Areas

WESTERN Areas is to raise $8.2 million in equity to accelerate exploration at its Forrestania nickel project in Western Australia, taking the company’s total equity raisings (including convertible notes) over the course of 2004 to around $25 million.

Michael Quinn
Equity raised by Western Areas

The latest placement sees 5.36 million shares at $1.53/share going to European institutional clients via Hartleys and Tricom Equities. As well as scaling up drilling, Western Areas said it would apply...

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