Breaker opens SPP
PERTH (miningweekly.com) – ASX-listed Breaker Resources' share purchase plan (SPP) aimed at raising A$3-million opened on Friday.
The SPP forms part of a greater A$23-million capital raise announced at the end of July to grow its resource base at the Lake Roe gold project, in Western Australia.
In addition to the SPP, the capital raise also consisted of a A$20-million share placement to institutional and sophisticated investors, priced at 24c a share. The share placement will be conducted in two tranches, with the first tranche comprising more than 29-million shares, to be issued under the company’s existing placement capacity.
The second tranche of more than 44.7-million shares would be subject to shareholder approval at a meeting on September 17.
Existing shareholder Electrum will invest A$2.2-million in the share placement to maintain its 9.95% interest in Breaker.
Under the SPP, which opened on Friday, existing shareholders would be allowed to subscribe for up to A$30 000 worth of new shares in the company, also priced at 24c each.
Breaker previously told shareholders that the funds raised would be used mainly to progress drilling activities to grow the resource at Lake Roe, and to expand future development options at the 600 km2 project. Since the start of 2020, drilling has identified three large-area growth or discovery targets, which the company said provided a solid foundation to grow the current one-million-ounce openpit resource.
The SPP will close on September 9.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
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
