https://www.miningweekly.com
Exploration|Gold|Underground
Exploration|Gold|Underground
exploration|gold|underground

Dacian completes A$98m raising

6th May 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) - Gold miner Dacian Gold has completed the retail component of its entitlement offer raising a total of A$28-million and taking its total capital raise to some A$98-million.

Dacian in April raised an initial A$70-million through the institutional component of its one-for-one accelerated non-renounceable entitlement offer, priced at 30c a share.

The miner on Wednesday said that some 69-million shares had been subscribed for under the retail entitlement offer, representing 74% of the new shares available for issue.

The remaining 24-million shares will be allocated to sub-underwriters on a pro-rata basis at the offer price.

Dacian MD Leigh Junk has previously said that the equity raising was the final step in successfully resetting and recapitalizing Dacian, and would allow the company the flexibility and opportunity to invest in the future growth of the Mt Morgans operation, and to define the various potential pathways to production beyond the current three-year outlook.

“We are extremely pleased with the support shown by both our institutional and retail shareholders in recent weeks. With the company now capitalized, we can focus our full attention on delivering our three year production outlook, with potential upside beyond that to come from our targeted near-mine exploration programme, regional consolidation opportunities and Westralia underground, which is currently not in the three year plan,” said Junk.

Edited by Creamer Media Reporter

Comments

Latest News

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.226 0.272s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: