PERTH (miningweekly.com) – ASX-listed Havilah Resources is hoping to raise A$2-million through a share purchase plan (SPP), days after completing a A$2.55-million share placement.
The company on Thursday said that the SPP will provide eligible shareholders the opportunity to acquire up to A$30 000 worth of new shares in the company, at a price of 17c each.
The placement price represents a 19% discount to Havilah’s last trading price on November 11, and an 18.6% discount to the company’s five-day volume weighted average share price.
Havilah earlier this week completed the placement of 15-million new shares, also priced at 17c each to institutional and sophisticated investors.
Proceeds from the SPP and the share placement will allow Havilah to move its key projects forward through to the end of 2021, and to conduct regional exploration work.
The funding will go towards ongoing feasibility study and permitting work at the West Kalkaroo gold project, to fund resource delineation drilling at the Grants Basin iron-ore project, drilling additional openpit resources for prefeasibility studies at Mutooroo, as well as drill testing regional exploration targets.