Western Areas raises SPP cap

May 3, 2016

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Nickel miner Western Areas on Tuesday increased the cap of its planned share purchase plan (SPP) from A$10-million to A$15-million after applications for the SPP exceeded A$20-million.

The SPP formed part of a greater capital raise announced at the end of March this year, under which Western Areas hoped to raise up to A$70-million through an SPP and share placement to buoy the company through the current low nickel price.

Category: General