KBR capital raising better than expected

Kalgoorlie-Boulder Resources has raised $50,000 more through a share placement as it prepares to change its name to Matsa Resources early next week.

The company confirmed today it had raised $750,000 through the issue of 9.375 million shares priced at eight cents each.

Shares in the company last traded at 14.5c at 12:48 AEDT.

Additionally, the company has issued 2 million options to the underwriters of the placement.

Kalgoorlie-Boulder will change its name to Matsa on Tuesday next week, with its new ticker to be MAT.

The name change is a result of a merger with private company Matsa, announced in August last year, which is associated with Paul Poli and Andy Viner.

Matsa holds interests in a number of projects in Western Australia and South East Asia.