Nov 3 (Reuters) - Minemakers Ltd MAK.AX :
* Placement to institutional investor MAK.AX
* Says private placement to JP Morgan asset management UK limited at $0.11 per share raises $3.1 million
* Decision to commence mining from the baobab phosphate project small mine permit area expected in the coming weeks
* Says post placement, Minemakers share capital will increase to 375.4 million shares
* Funds raised will be deployed towards the development of the baobab phosphate project and for working capital
* Source text (http://bit.ly/1WsYlTr)