The company is placing up to 16.7 million shares at $0.06 each with a one for one attaching option exercisable at $0.175 on or before 31 March 2016.
Argent plants to use the funds to progress the NSW Government approval process for the Kempfield project, for which the company submitted an Environmental Impact Statement in early April 2013.
Funds will also be used to speed up the follow up exploration program covering the volcanic hosted massive sulphide (VMS) geophysical anomalies identified immediately adjacent to the Kempfield deposit and within the proposed project area.
Commenting on the fund raising, Argent Minerals CEO David Busch stated: "We are pleased with the strong support for the Placement from sophisticated investors, and are looking forward to accelerating the follow up program recommended by Professor Ross Large while we continue to progress the Kempfield Silver Project through the NSW Government’s assessment phase."
