0951 [Dow Jones] Hardman Resources (HDR) shares halted pending completion of equity-raising from both European and Australian investors. Total number of shares to be placed not yet finalized, but no more than 57 million, with Woodside (WPL) agreeing to subscribe for 10 million of total shares issued. Placement price set at 70 cents/share, a slight discount to yesterday's 72 cents closing price (placement price 24.5 pence in U.K.). Proceeds of issue will fund future exploration and development programs and working capital. Shares likely to resume trading Friday, should hold up well given Woodside support. (RAT)
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held