SUNSHINE Gas has raised A$5.5 million at short notice following a request from the Department of ...
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Sunshine placed 11 million new shares at 50 cents each with several investors and institutions after the Department responded to the company's joint application for nine blocks in the 23rd UK Seaward Licensing Round.
Results of the licensing round are expected to be announced by mid-September. If Sunshine Gas fails to win any of the UK blocks, it will use the funds to develop projects in the Surat and Cooper Basins.
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