Nickel Mines raises A$55m in placement

ASX-listed Nickel Mines has raise A$55-million in a share placement as the first tranche of a multi-component financing package to increase its stake in the Ranger project from 17% to 60%.

The placement will see the issuance of 137.5-million new shares at a price of A$0.40 a share, which is a 6.1% discount to the 30-day volume-weighted average price.