Shareholders of Kenmare Resources have approved the company's financing arrangements for the Moma Titanium minerals project.
Kenmare will raise the $79 million it needs for developing Moma through an open share offer $18.7 million together with the share placing of $55 million announced in June.
The remaining equity is to be raised by a supplemental placing of shares provided under the terms of the June placing.
Kenmare directors are subscribing $740,000 under the open offer and in excess of a further $930,000 has been subscribed by companies in which the directors have interests.