Lithium producer Altura Mining is hoping to raise A$28-million through a share placement and share purchase plan (SPP) to underpin the production ramp-up at its Altura lithium project, in Western Australia.
Some 184-million shares will be placed to institutional and sophisticated investors, priced at 13c each, to raise an initial A$23-million. The placement price represents a 18.8% discount to the 30-day volume-weighted average price of Altura shares.