Mantle Mining Corporation is set to raise AUD 1.35 million to fund existing exploration programs at the company’s projects in Queensland and Victoria.

The money will be raised through a share placement agreement with Cygnet Capital, comprising 10 million shares at a price of AUD 0.135 per share.

One free attaching listed option will be granted for every two shares allotted under the placement. These options are exercisable at AUD 0.075 each, and expire on December 1st 2013.

Mantle has interests in gold, coal, coal bed methane, uranium and phosphate.

The company’s projects include the the Trafford Coal Project and Granite Castle Gold Project in Queensland and the Bacchus Marsh Coal Project in Victoria, where a stage 1 drill program was completed in the December quarter of 2011.

(Sourced from www.proactiveinvestors.com.au)