Noble picks up on Xanadu shortfall
PERTH (miningweekly.com) – Diversified supply chain group Noble has increased its shareholding in ASX-listed Xanadu Mines to 9%, after taking up a subscription shortfall in the company’s recent rights issue.
Noble took up more than 5.5-million shares, at 12c each, for a total investment of A$665 746.
Xanadu told shareholders on Thursday that with the investment from Noble, the company had successfully raised about A$15.3-million through the share placement and rights issue.
Xanadu would use half of the generated funds to pay down up to $10-million of the 18-month deferred consideration for the $14-million deal to acquire a 90% interest in Turquoise Hill subsidiary Oyut Ulaan, which holds the Kharmagtai porphyry copper/gold project, in the South Gobi region of Mongolia.
The acquisition was completed in May last year, with $4-million of the consideration already paid by Xanadu subsidiary Mongol Metals.
The company said that the financial strength and flexibility provided by the capital raise would ensure that the company was well capitalised to unlock value at the Kharmagtai and Oyut Ulaan copper/gold projects.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation