PERTH (miningweekly.com) – Metals developer Centaurus Metals is hoping to raise up to A$2-million through a rights issue to advance exploration at its copper and gold projects, in Brazil.
The company on Wednesday said it would undertake a three-for-five renounceable rights issue, priced at 0.5c each, together with one free attaching option for every two new shares subscribed for, at an exercise price of 10c each and an expiry date of April 30, 2018.
MD Darren Gordon said the milestone capital raising would allow Centaurus to gear up for a pivotal phase of exploration across its recently expanded gold and copper portfolio.
“The company has been fortunate through its alliance with Terrativa, to secure the Serra Misteriosa project as part of the Para exploration package. This portfolio contains numerous drill-ready targets and provides Centaurus with a full pipeline of exploration opportunities which we plan to systematically test over the coming year, beginning with the Serra Misteriosa project itself.”
Gordon said the successful completion of the raise would place Centaurus in a strong position, with the capacity to pursue active and focused exploration programmes across a prospective project portfolio in northern and south-eastern Brazil.