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Petratherm Ltd (ASX:PTR) has announced a $3.1m capital raise

Petratherm Ltd (ASX:PTR) has announced it has received firm commitments to raise $3.1m by way of placement of new shares with funds to be used to expedite exploration on the Company’s Comet and Woomera projects.

When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.

More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.

Shares of Petratherm Ltd traded down 7.14% following the announcement, at $0.13/share.

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