Brazilian Rare Earths Limited is pleased to advise that it has received firm commitments for a placement of 24.24 million of new fully paid ordinary shares at a price of A$3.30 to raise A$80million.
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The offer was priced at $3.30 a share, a 9.6 per cent discount to the last close but more than double the $1.47 mark at which it listed just six months ago.
Brazilian Rare Earths Limited confirms the discovery of ultra-high grade REE-Nb-Sc-U mineralisation with diamond drilling at the Sulista project, located ~80km southwest of the Monte Alto project.-.