Geopacific Resources outlines rights issue, funds to advance copper project in Cambodia

9 September 2013
Proactive Investors Australia
Copper / Economy and commerce / Extractive Industries / Extractive industries policy and administration / Gold / Industrial mining / Minerals and mineral products / Mining
Geopacific Resources / Kou Sa Copper Project / RCF VI / Resource Capital Fund VI

Cambodian-focused Geopacific Resources (ASX: GPR) has now released its 10 for 17 non-renounceable rights issue which will raise up to A$3.0 million at $0.05, and forms part of a larger funding package. In August GPR outlined a funding package which will include an equity placement of US$3.0 million with the Resource Capital Fund VI L.P. The placement is subject to a number of conditions, including the company raising A$3.0 million under the rights issue. The funds will be allocated to the highly prospective Kou Sa copper project in Cambodia, where the company recently identified gold, copper, molybdenum and associated multi-element anomalism from soil samples following the Phase One geochemical program. … RCF VI will be issued around 66 million shares at A$0.05, and following the funding package it will hold about 28% of GPR. …

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