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Terramin raises funds via placement

Terramin Australia (AU:TZN) aims to raise A$8 million (US$6.27 million) through a share placement to fund its Tala Hamza zinc project in Béjaia, Algeria, and Bird-in-Hand gold project near Adelaide, Australia.

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Proceeds will fund the Bird-in-Hand project’s mining lease application

It has already raised A$6.3 million through the first tranche where 37.5 million shares were issued. The company expects to complete the second tranche of 10.1 million shares for A$1.