Oriental Minerals Inc. (OTL – TSX Venture, OZ4 – FWB, OMNLF – OTCBB_Pink_Sheets)reported that the company has completed a partially brokered private placement of 82,500,000 units at a price of $0.08 Canadian per Unit, generating gross proceeds of CAD$6.6 million.
The press release is quoted as saying:
Oriental Minerals is focused on developing world-class mining projects in South Korea. The company is working on proving up its flagship Sangdong tungsten-molybdenum project which was formerly one of the largest tungsten mines in the world.
