Ballard Mining (ASX:BM1) received commitments for a placement of around 68.2 million new fully paid ordinary shares in Ballard at an issue price of AU$0.66 per new share to raise AU$45 million, according to a Monday Australian bourse filing.
New shares issued under the placement will be issued using its existing placement capacity under ASX Listing Rule 7.1.
Ballard will offer eligible shareholders the opportunity to participate in a share purchase plan to raise up to a further AU$5 million at the issue price.
It will use the funds to progress development and exploration at the Mt Ida gold project.
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