Euroz Hartleys is testing appetite for an equity raise on behalf of listed miner Mallee Resources, which hasn’t traded for more than a year.
Fund managers said Mallee was open-ended on its target amount, with Euroz telling them it was after anywhere between $20 million to $70 million at 70¢ a share.
Avebury was discovered in 1997 by CRA exploration and its ownership has passed through Allegiance Mining, Zinifex , MMG Limited and Dundas Mining. But fund managers have long memories, and were pointing to MMG’s troubles with separating nickel from arsenic in Averbury’s ore and, later, with shipping it.
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