Waratah Resources (ASX:WGO) had raised $319,000 through a share placement to fund ongoing development of its Australian Commodities Division.
Proceeds from the issue of 31.9 million shares priced at $0.01 each to new and existing sophisticated investors will also be used to evaluate and assess its exploration assets in Gabon.
The company continues to work towards developing and implementing a logistics network for the supply of commodities by its Australian Commodities Division.
Earlier this year, it was offered three additional licences in Gabon.
These licences are located in strategic locations within Gabon, in different minerals encompassing nickel, gold, copper and rare earths.
Waratah plans to have a geologist on the ground in the current quarter to evaluate the potential of the new licences.
