https://www.miningweekly.com
Platinum|PROJECT|Projects|Operations
Platinum|PROJECT|Projects|Operations
platinum|project|projects|operations

Eastplats unveils rights offering to fund growth opportunities

24th March 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Dual-listed Eastern Platinum (Eastplats) on Friday announced a rights offering that provides shareholders an opportunity to directly fund the capital investment required to take advantage of platinum group metals (PGMs) growth projects.

Shareholders can acquire one right for each common share held. Each right will entitle the holder to subscribe for one common share at a subscription price of C$0.11 or R1.4564 a share.

Eastplats has 137 820 773 common shares issued and says if all rights are validly exercised, an additional 137 820 773 common shares will be issued.

Eastplats explains in a statement that it will use net proceeds of the rights offering, subject to the results of the amount raised, on capital projects expected to be completed during 2023.

If sufficient funds are raised, the money will be used on secondary projects, which are expected to begin in 2023 but which are not expected to be completed until the following year.

The offering will close on May 5.

Eastplats notes that it has sufficient working capital to continue with its current operations in 2023, subject to the Retreatment Project option and loan assessment occurring in 2023.

Edited by Creamer Media Reporter

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/05/2023)
26th May 2023 By: Martin Creamer

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.077s - 126pq - 2rq
Subscribe Now