Heidelberg/Perth. Hammer Metals, 15.51% owned by Deutsche Rohstoff, announced today, that it has raised approximately AUD 1.2 million in a share placement. The company has issued around 18.5 million shares at a price of 6.5 cents. Deutsche Rohstoff participated in the capital raising with AUD 190,000 and holds 15,50% of Hammer Shares after closing of the placement.
Hammer will use the proceeds from the placement to accelerate exploration activities at its Mount Isa projects in Queensland, Australia. The campaign will target drilling the “Scalper” copper-gold prospect and the recently purchased “Millenium” copper cobalt gold project. Work at Millenium is designed to follow up high grade cobalt and copper intersections with the objective of outlining a JORC compliant resource estimate (Joint Ore Reserves Committee). Drilling will commence in late June 2016.
Detailed information can be found on Hammer’s website:
Heidelberg, 23 May 2016
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.
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