June 5 (Reuters) - Talga Resources Ltd TLG.AX
* Placement will see issue of 20.5 million new ordinary fully paid shares at an issue price of $0.60 per share
* announces a funding initiative to raise gross proceeds of $12.3 million
* Intends to apply placement proceeds towards co's commercial, processing, product development and mineral development programs in europe Source text for Eikon: ID:nASX4M07pQ Further company coverage: TLG.AX