Rubicon Resources raises funds for Mozambique expansion

(MENAFN- ProactiveInvestors)

Rubicon Resources (ASX:RBR) has raised $474314 through its rights issue priced at $0.012 to support the proposed expansion of its mining energy and construction business in Mozambique.

That applications were received for over 62% of the $763238 worth of shares that were originally available is a good results in current markets.

Shares in RBR are currently trading at $0.017.

The company is now considering options to place the shortfall of 24 million shares.

Its cash flow generating subsidiary PacMoz has major international customers operating in or servicing the oil and gas and resources sector in Mozambique as its customers.


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