Hartleys Launches Galena Capital Raise
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Lead and silver miner Galena Mining went into a trading halt on Monday, seeking to raise more than $8 million to help finance more drilling on its emerging lead/silver and gold/copper project in the Gascoyne area of WA.
Lead manager Hartleys were offering the shares at 15.5 cent each, representing a 12.6% discount to the 15-day volume weighted average price.
The shares closed at 16.5 cents last Friday.
The trading half is in place until the start of trading tomorrow (Wednesday).
The company is prepared to accept over subscriptions of up to a further $1 million.
Funds raised will be used for further infill and expansion drilling at Galena’s 100%-owned Abra project in Gascoyne, WA.
Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.
At the AFR he was a finance writer, Finance Editor, News Editor and Chief of Staff. At the Nine Network he was supervising producer of Business Sunday for more than 16 years. He has also written for other online and analogue print publications here and overseas.