Northern Minerals to raise A$10m

Rare earths developer Northern Minerals has announced plans to raise A$10-million in a share placement, after striking an underwriting agreement with Hong Kong-based AMC Wanhai Securities. More than 74-million shares will be placed to a syndicate of investors and the underwriter, priced at 13.5c a share. The placement price represents a 4% premium to the company’s last closing price on March 17.