By Laura Lutz
Des Moines, Sept. 28 - FerrAus Ltd. completed a private placement of stock for proceeds of A$2,604,125.
The company sold 6.275 million ordinary shares to Australian and international professional investors for A$0.415 per share.
The investors included two U.S. financial institutions and clients of Bell Potter Securities.
Proceeds will be used for evaluation and planning at the company's Robertson Range iron ore project, exploration at its Davidson Creek iron ore project, exploration at its Enachedong manganese project and working capital.
FerrAus is a mineral company based in Adelaide, South Australia.
| Issuer: | FerrAus Ltd.
|
| Issue: | Stock
|
| Amount: | A$2,604,125
|
| Shares: | 6.275 million
|
| Price: | A$0.415
|
| Warrants: | No
|
| Settlement date: | Sept. 28
|
| Stock symbol: | Australia: FRS
|
| Stock price: | A$0.43 at close on Sept. 28
|
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