Red Back to raise $1.4 million

RED Back Mining is to raise $1.4 million in working capital via a placement to major shareholder Macquarie Bank and institutions in North America and Europe.

Red Back to raise $1.4 million Red Back to raise $1.4 million Red Back to raise $1.4 million Red Back to raise $1.4 million Red Back to raise $1.4 million

The placement comprises 4.4 million shares issued at 32 cents, taking Red Back's capital structure to 119.3 million shares.

As at June 30, 2002 Macquarie held a 19.8% stake in the Perth-based junior.

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