Beacon Hill raises £1.25m
JOHANNESBURG (miningweekly.com) – Aim-listed Beacon Hill Resources has entered into conditional subscription agreements with certain institutional investors, arranged by and including Darwin Strategic, to place up to 1.25-billion ordinary shares in the company to raise about £1.25-million.
The net proceeds of about $1.9-million, in addition to the company’s $1.6-million in existing cash, were required to provide Beacon Hill with adequate working capital to the end of the fourth quarter of the 2014 calendar year. This was the final target drawdown of $20-million in senior debt to be used to expand the company’s Minas Moatize wash plant, in Mozambique.
In addition, Beacon Hill stated that it would also grant warrants on the basis of one warrant for every two placing shares to the subscribers of the new shares.
These warrants would be exercisable at a price of 0.35p a share for three years.
The fundraising was still subject to certain conditions, including shareholder approval.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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