Hammer taps capital markets
PERTH (miningweekly.com) – Junior Hammer Metals will raise A$5-million in a share placement to existing, as well as sophisticated and institutional investors.
The company on Friday announced that it had received firm commitments for the placement of more than 52.6-million shares, at a price of 9.5c each, representing a 13.6% discount to Hammer’s last closing price.
The shares will be placed under the company’s existing placement capacity, with Hammer saying on Friday that it would also launch a share purchase plan to raise an additional A$1-million.
The capital raise, along with Hammer’s existing cash reserves, would go towards an aggressive exploration programme in Mount Isa at the company’s copper/gold targets in the region, as well as potential extension and infill drilling at its Sunset, Black Rock and Overlander deposits to either define or extend Joint Ore Reserves Committee-compliant resources.
“We are delighted with the outcome of the placement that was well supported by existing shareholders and a number of new institutional investors,” said Hammer MD Daniel Thomas.
“With the recent success drilling copper/gold targets in Mount Isa, we are excited to continue the momentum by accelerating exploration efforts throughout the remainder of 2021.”
Comments
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