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The Market Online

Junior explorer Sky Metals (SKY) has raised $5.6 million to accelerate drilling work at its Doradilla Tin-Copper Project in north-western New South Wales.

The company will issue 65.9 million new shares to institutional and sophisticated investors at a price of 8.5 cents each, which represents a 13.3 per cent discount compared to Sky Metals’ closing price on October 26 of 9.8 cents per share.

Settlement of the new shares is expected to take place on Thursday, November 4, after which they will rank equally with Sky Metals’ existing shares on issue.

Read the full report and watch the interview on the market online here.

Sky Metals (ASX:SKY) raises $5.6m for drilling at Doradilla