PERTH (miningweekly.com) – ASX-listed Centaurus Metals will raise some A$2.5-million to advance exploration at its gold and copper projects in Brazil.
The company on Wednesday announced it would undertake a partially underwritten rights issue under which eligible shareholders would be allowed to subscribe for five new shares for every nine held, at an issue price of 0.4c a share.
One free attaching option would be attached to every new share subscribed, and would have an exercise price of 1c each, and an expiry date of August 2019.
The issue price represented a 47% discount to the three-month volume-weighted average price of Centaurus shares, and a 33% discount to the company’s last closing price.
The company told shareholders that the funds would be used to continue a drilling programme at the Serra Misteriosa gold project, as well as to start exploration activities at the Salobo West copper/gold project, and to provide general working capital.