Argonaut acted as Lead Manager to successfully raise A$5.2 million Placement for Strandline Resources Limited in 2017. Funds raised were used towards the development of the Fungoni Heavy Mineral Sands Project in Tanzania. The Placement was underpinned by strong support for existing shareholders and sophisticated investors resulting in an oversubscribed Placement allocated to fund process permits and licenses and general working capital.
Strandline Resources Limited (ASX:STA) is a mineral exploration and development company with projects in Australia and Tanzania. Their principal mining assets include the Coburn Heavy Mineral Sands Project in Western Australia, the Fowlers Bay Nickel Project in South Australia, and the Heavy Mineral Sands Project in Tanzania where the Company holds a large tenement package along the Tanzanian coastline.
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