Junior Peel Mining has exercised its pre-emptive rights to acquire joint venture (JV) partner CBH Resource’s 50% stake in the Mallee Bull base metals project, in New South Wales, launching its one-for-eight pro-rata non-renounceable entitlement offer.
The company in July this year announced plans to raise A$17.1-million through a share placement and entitlement offer, to fund the Mallee Bull buy.