Rubicon works at Palmer

Rubicon Minerals (RMX-V) has raised $250,000 in a private placement, with proceeds earmarked for drilling on its Palmer base metal project near Haines, Alaska

The placement consisted of 500,000 non-flow-through units priced at 50 cents each. A unit consists of one share and one share purchase warrant. Each warrant can be redeemed for a share at 65 cents at any time before Sept. 29, 2000.