JOHANNESBURG (miningweekly.com) – JSE-listed Sentula Mining has deepened its partnership with JB Private Equity Investors, securing a further R15.3-million of its capital raising target through a multimillion-dollar rights offer.
Last year, Sentula announced plans to raise R105.58-million through a partially underwritten renounceable rights offer of 586.5-million shares, to be undertaken on a one-for-one basis at 18c apiece.
To date, the group had secured commitments for R64.7-million – 61.3% of the rights offer.
Sentula had initially entered into an underwriting agreement with JB to underwrite some R10.44-million.
This was followed by a second underwriting agreement with the Dalikhaya Rain Zihlangu Family Trust to underwrite up to R10-million.