Nov 8 (Reuters) - Alloy Resources Ltd AYR.AX
* Alloy Resources-proceeds from placement will be used to fund co's ongoing 40% contribution to JV expenditure at horse well gold project
* Alloy to raise $1.25 million to progress gold and cobalt exploration activities
* Placement of 250 million ordinary fully paid shares at 0.5 cents per share
* Alloy Resources Ltd - share placement to raise $1.25 million-ayr.ax Source text for Eikon: ID:nASX5zfRLJ Further company coverage: AYR.AX