BBX Minerals Limited Commits To Raising a Minimum of $1million

  • Dec 19, 2018 AEDT
  • Team Kalkine
BBX Minerals Limited Commits To Raising a Minimum of $1million

The company has received obligations to raise a minimum of $1million to existing sophisticated and institutional investors at 0.15 cents per share, and for the Major shareholder, Drake Special Situations LLC is participating on a prorated basis. As per the announcement it has received commitments to raise a minimum of $1,000,000 through placement of a minimum of 6,666,666 new shares to existing sophisticated and institutional investors at 15 cents per share.

Based on one option for every two new shares issued at $0.20 the company will also issue a minimum of 3,333,333 free attaching options with a maturity date of 20 December 2020 under the company´s existing 15% capacity. For the Três Estados and Ema projects funds raised will be for general working capital purposes associated with finalizing the development of a metallurgical extraction process, ongoing analytical technique development, finalization of the trial mining licenses and planning for the design and construction of a semi-commercial pilot plant.

With Drake Special Situations LLC again demonstrating their significant ongoing support the Company’s top five shareholders strongly supported the placement. BBX CEO Mr. Jeff McKenzie said while commenting on the successful raising ‘the company is delighted with the continued support they have received from existing shareholders in the Placement, especially from our five largest shareholders and the continued support of Drake Special Situations LLC has again been instrumental in the success of the placement. With completion expected by late December 2018, the company expects the Placement will be settled progressively.

BBX minerals limited has gone down by 5.405% and saw a daily price change of $0.010 and is at $0.175. During the last three months, the stock has performed well and seen a performance change of 54.17%. The 52-week high is of $0.360, and 52-week low is $0.120. At the current market price, the market capitalization is $73.51 million.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK