Australia

Broken Hill Prospecting closes renounceable rights offer to support exploration at La Paz Rare Earths project

Broken Hill Prospecting Ltd (ASX:BPL) has announced its renounceable rights offer closed on Monday, February 17, 2020 with applications totalling $1,310,227 – around 52.6% of the total offer.

BPL intends to use the funds raised under the offer to progress work at the La Paz Rare Earths Project in Arizona USA, following the initial success of the maiden mapping and sampling program during October 2019 which led the company to apply for further tenements and double its footprint in the region.

Exploration and metallurgical plans

The company will use the funds to carry out exploration and technical programs focused on metallurgical test work forming a critical part of the scoping study economic assessment of the project which is due in 2020.

This includes: