Chalice beats raising expectations
PERTH (miningweekly.com) – Dual listed Chalice Gold Mines has beaten its capital raise targets with the company on Wednesday revealing it had received firm commitments for a A$100-million share placement to sophisticated, professional and institutional investors.
In addition to the placement, the company will also undertake a share purchase plan (SPP) aimed at raising a further A$10-million.
Chalice earlier this week unveiled plans to raise a combined A$100-million, consisting of A$90-milllion in a share placement and the A$10-million SPP, to accelerate exploration activities and deliver a mineral resource and mining studies for the Julimar nickel/copper/platinum project, in Western Australia.
“The demand for the placement was incredibly strong, with the book covered multiple times over the desired amount. This is testament to the scale and quality of the discovery at Julimar, but also the potential of the region to become a new world class base and precious metals mineral province,” said Chalice MD Alex Dorsch.
“Approximately 160 000 m of diamond and reverse circulation drilling is now planned at Gonneville to support the delivery of a maiden mineral resource in mid-2021, which will then lead into mining studies planned over the following 18 months.
“We have also earmarked significant funding for initial drill testing of the compelling multi-km scale targets within the Julimar State forest, once approvals are obtained,” said Dorsch.
The share placement will now comprise some 26.7-million shares, which will be issued at a price of A$3.75 each, to be placed within the company’s existing placement capacity. The shares will be placed by December 8.
The SPP will allow shareholders to subscribe for an additional A$30 000 worth of new shares, also priced at A$3.75 each, and will close on January 12.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
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
