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Blue Ocean Equities in market with MOD Resources raising

MOD Resources is seeking to raise $14.6 million in a share placement through Blue Ocean Equities.
The broker contacted potential investors on Wednesday, seeking bidders for the new stock.
Shares were being offered at 6.2¢ each which was a 16.2 per cent discount to the last close ad a 2.2 per cent discount to the 15-day volume weighted average price.
Funds raised were to pay for exploration in the 2017 calendar year.

The broker was seeking bids by midday on Thursday.
MOD Resources is as ASX-listed copper company exploring in the Kalahari Copper Belt in Botswana.
The company had a $121 million market capitalisation prior to Wednesday's raising.