Alcyone Resources Limited (ASX:AYN) ("Alcyone" or the "Company") welcomes the opportunity to provide the following update for the quarter ending 30th June 2013 and would like to highlight a significant development in its recent fund raising efforts.
The Company is pleased to announce that it has achieved the minimum subscription target of A$6M ahead of the closing date for its current Entitlement Offer ("Entitlement Offer").
The Company has completed a number of capital initiatives that together with the current rights issue will recapitalise the Company and enable implementation of further operational improvements and a further reduction in production costs. The Board and management team would like to take this opportunity to thank Shareholders for the support they have shown throughout a challenging period, and welcome further contributions in the final days of the offer.
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