Australia-based mineral exploration and development company Attila Resources Limited has announced that it has secured A$6.5 million of funding by way of an oversubscribed capital raising to accelerate the development of its Kodiak coking coal project in the Cahaba coal basin in Alabama, US.
The capital raising comprises a placement of 8.125 million fully paid ordinary shares at an issue price of A$0.80 per share. The proceeds of the raising will be used to advance the development of the Kodiak coking coal project including the funding of the feasibility study, the acquisition and commencement of drilling on the Seymour property and general working capital.