Burdekin Pacific Limited seeks $4 million

Emerging copper producer & gold explorer Burdekin Pacific Limited will change its name to Redbank Mines as part of a diversification strategy underpinned by a $4 million public offer.

The offer includes a free tradeable bonus option to be issued to all shareholders on the register 30 days after completion of the public offer on the basis of one free option for every two shares held on the record date.

As part of its restructure, Burdekin has also announced a 1-for-20 capital consolidation. Registered shareholders will get priority to the issue.

Sydney and Newcastle-based Cameron Stockbrokers Limited will act as broker to the issue.