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Bounty said last month the proceeds would be put towards working capital and equipment, including a continuous haulage system.
The capital raising, which included $700,000 raised in February this year, was through the placement of 21,673,333 shares at 6c per share plus one option for every two shares placed.
A general meeting will be held in June to seek shareholder approval on the transactions.
Bounty securities remained unchanged this morning at 7c.
