This article is 19 years old. Images might not display.
The company announced significant gold intersections from the first five holes of a program in late January at its Redcliffe project in Western Australia gold intercepts but its oil and gas portfolio has been moribund.
Pacrim’s directors said they would place 10 million shares at 2.3c per share to a group of professional investors “for the strategic purpose of expanding Pacrim’s oil and gas interests.”
PRE shares have moved from below 2c in December to above 3c in recent weeks. It has 493,887,397 shares on issue with a market cap of AUD$15 million.
