04
Nov
10:40
Cullen Resources raises AUD 1.4m for Mt Stuart ore mine
Australia’s Cullen Resources is reportedly raising AUD 1.4 million ($1m) through an equity offering in order to continue participation in the Mt Stuart iron ore project, among other uses. The deposit is one component of the West Pilbara Iron Ore Project headed by Aurizon and China’s Baosteel, Kallanish notes.
The company is planning a one-for-two non-renounceable rights issue at 0.2 Australian cents per share to raise capital for its ongoing projects…
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