Wednesday 17 December 2014

Otmane El Rhazi : Radar cancels rights issue, hopes to amend purchase terms

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.



ASX-listed junior Radar Iron was looking to amend the sales agreement of its Yerecoin project buy, after the company was forced to abandon a A$4.6-million rights issue. In September this year, Radar announced its plans to raise A$5.5-million through a rights issue and share placement. Some 26.1-million shares were placed to investor Victory Mining, raising A$900 000.

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