Poseidon SPP draws major interest

Nickel developer Poseidon Nickel has beat its A$3-million raising target in a recently closed share purchase plan (SPP).

The SPP was announced earlier this month as part of a A$9-million capital raise to progress the restart of the Black Swan project, in Western Australia. Under the SPP, eligible shareholders were allowed to subscribe for up to A$30 000 of additional new shares in the company at a price of 3.5c each.