May 30 (Reuters) - Coppermoly Ltd COY.AX :
* SHANGHAI FUYUAN INVESTMENT CO SUBSCRIBED FOR UP TO 404.2 MILLION SHARES IN CO AT $0.015 PER SHARE TO RAISE UP TO $6.06 MILLION
* PROCEEDS FROM PLACEMENT WILL BE USED FOR DEVELOPMENT OF NAKRU CU-AU PROJECT, AMONG OTHER THINGS