Australian heavy rare earths producer, Northern Minerals Limited (ASX: NTU) has announced that in relation to the previously announced $30 million placement, the Company has now received approximately $11.9 million in subscription funds.
These funds comprise all of the subscription funds for Tranche 1, and part of the subscription funds for Tranches 2 and 3 which have been received earlier than anticipated.
The Company will issue the relevant shares over the coming days.
