Blackstone Secures Option to Acquire Major Nickel Asset
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Blackstone Minerals Limited: Blackstone Secures Option to Acquire Major Nickel Asset
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Well supported by both domestic and international institutions
Strong financial position to deliver Kharmagtai exploration strategy, targeting resource growth and definition of high-grade bornite-rich zones at depth
Concurrent with the Placement, firm commitments from certain institutional investors have been received to facilitate a $1.4 million sell down with an existing shareholder
Key shareholder SSI Asset Management AG maintains existing pro rata shareholding
The proceeds of the Placement, together with the Company s existing cash resources, will be applied towards the Kharmagtai Phase 2 exploration program in accordance with its strategy to target higher grade, bornite rich zones at depth and for general working capital purposes.