https://www.miningweekly.com

Deep Yellow lines pockets for project development

25th August 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Deep Yellow on Monday reported that it would raise up to A$3-million in a share placement to sophisticated and institutional investors.

The company would place some 179.4-million shares, at a price of 1.7c each, to raise the capital.

The placement would be done in two tranches, with the first taking place as the satisfaction of a nonrenounceable entitlement issue shortfall. About 113.1-million shares, equating to A$1.9-million, would be placed in the first tranche.

The second tranche, consisting of 66.3-million shares, to raise A$1.1-million, would be placed under the company’s existing capacity.

Chairperson Tim Netscher said on Monday that the placement would place Deep Yellow in a sound position for the short to medium term, enabling the company to maintain its momentum by using the funds to progress its flagship Omahola project and the Tubas Sands project, in Namibia.

“We will continue to carefully monitor all expenditure to ensure we extract the maximum value from these funds and to remove the need to return to the market in the foreseeable future.”

Edited by Creamer Media Reporter

Comments

Latest News

BHP seeks to break mining’s M&A curse with thorny Anglo deal
BHP seeks to break mining’s M&A curse with thorny Anglo deal
Updated 2 hours 31 minutes ago By: Bloomberg

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
Updated 6 hours ago
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:0.211 0.25s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: