PERTH (miningweekly.com) – ASX-listed Bellevue Gold was hoping to raise A$20-million through a share placement to sophisticated and institutional investors.
The company said it would place some 37-million shares, at a price of 55c each to raise the cash, which will be used to advance the Bellevue gold project, in Western Australia.
The placement price represented a 9.8% discount to the company’s last closing price of 61c a share and a 5.8% discount to the 10-day volume weighted average price of 58c a share.
MD Steve Parsons said on Friday that the placement has received strong support from Australian investors, as well as from those in North America.
“We would like to welcome a number of new institutional investors to our share register and thank our existing shareholders for their ongoing support. We are particularly pleased with the level of support from a number of institutional investors based in Australia, as well as the ongoing support from our North American institutional investor base.
“We are now fully funded to undertake drilling activities at Bellevue over the next 12 months,” he added.