Geopacific raises cash for Cambodia exploration
PERTH (miningweekly.com) – Junior metals explorer Geopacific Resources would raise about A$23-million through a share placement and rights issue to fund exploration work at its Kou Sa project, in Cambodia.
The ASX-listed company on Friday announced that it would raise an initial A$9-million through the placement of 150-million shares, at a price of 6c each. The placement would be made to two specialist resource fund groups; Resource Capital Fund and Tembo Capital Mining Fund.
At the completion of the placement, Tembo would have a 17.9% interest in Geopacific, while Resource Capital Fund would maintain its 35.9% interest.
In conjunction with the placement, Geopacific would also undertake a fully underwritten non-renounceable rights issue, offering eligible shareholders ten new shares for every 21 shares already held.
The rights issue would be priced at 5.5c a share, and was expected to raise up to A$14-million.
“The funds raised will allow Geopacific to meet its next two obligations to the Kou Sa project vendors, and with continued exploration success, we expect to have completed a scoping study next year,” said Geopacific MD Ron Heeks.
Geopacific was currently earning an 85% interest in the project, with the remaining 15% of the project to be held by a subsidiary of the company’s Cambodian partner, the Royal Group.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.
VISIT SHOWROOM
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
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
