Blina Minerals (ASX: BDI) has raised A$1 million before costs for maintenance of its existing exploration assets and the possible acquisition of new projects. Funds will also be used for working capital.
The company had received firm commitments from sophisticated and professional investors to subscribe for 400 million shares prices at A$0.0025 each.
This is subject to shareholder approval at a general meeting to be held on or about 3 October 2012.
Blina is conducting a discovery and review of potential projects in the African continent, including Zambia and the Congo.
It also continues to monitor the diamond sector and to assess opportunities for its diamond exploration assets.
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