EDITOR: | February 11th, 2014

Lamboo Resources: Strong Demand Raises $4.2 million to Advance Flake Graphite Projects

| February 11, 2014 | No Comments
image_pdfimage_print

February 11, 2014 (Source: Lamboo Resources) — The Directors of Lamboo Resources Limited (ASX:LMB) (“LMB or Company”) are pleased to announce that LMB has successfully completed a capital raising for the Company.

Lamboo has received oversubscriptions for the issue of 15 million shares at $0.28 to raise approximately $4.2 million , to sophisticated and institutional investors in accordance with the Company’s placement capacity and within ASX listing rules.

Managing Director Richard Trevillion commented “The level of demand for our capital raising has been extraordinary and in a difficult market an affirmative vindication of the strength of our flake graphite projects in Australia and South Korea.”

Funds have been earmarked to accelerate the resource growth at McIntosh Australia and to contribute to the steps necessary for its planned production late 2014/early 2015.

Lamboo has previously announced it is awaiting assays from drilling at the Guemam Project South Korea. Thick intercepts of flake graphite have been recorded with the capital raising providing Lamboo with the capacity to fast track the development of the Guemam Project.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


Copyright © 2016 InvestorIntel Corp. All rights reserved. More & Disclaimer »


Leave a Reply

Your email address will not be published. Required fields are marked *