IPB Petroleum (ASX:IPB) has successfully completed a placement of 3.6 million new shares at an issue price of A$0.32 per share to raise A$1.15m. Funds will be used towards:
- Continuing IPB’s study work in its three Exploration Permits in the Browse Basin, offshore North West Australia, and potential new permit(s);
- Pursuing Farm Out activities; and for
- General working capital purposes.
Blackham Resources (ASX:BLK) has received commitments from investors for A$3.15m worth of shares at 11.5 cents - the Company has subscriptions for A$450k through a placement to sophisticated investors, and a further A£2.2m through a subscription agreement with Lanstead Capital, a UK based institutional investor. The shares will be issued under the Company's existing capacity under the ASX Listing Rules. In addition, the Company intends to offer its existing shareholders the opportunity to subscribe for a further 10m shares to raise A$1.15m, with BBY Limited committed to underwrite the offer to the amount of A$500k. Net proceeds will be used to fund exploration and development studies at the Matilda Gold Project, and for working capital. www.blackhamresources.com.au