Freehill Mining Limited has successfully completed a fundraising of $4.02 million to complete the acquisition of the Yerbas Buenas mine a producing magnetite sands mining operation in Chile.
Freehill intends to:
-Establish JORC compliant reserves for Yerbas Buenas
-Reduce current relatively low production costs further with modest capital expenditure
-Expand existing production and review potential for additional products from the project
-Proceed with application for significant production increase