PERTH (miningweekly.com) – Gold miner Resolute Mining has completed a A$195-million capital raise after gaining shareholder approval for the second tranche of its placement.
The miner in January announced plans for the capital raise to repay its $130-million Toro Gold bridge facility.
The capital raise consisted of an initial A$146-million fully underwritten institutional placement, while an additional A$25-million was raised through a placement to Resolute’s directors and its largest shareholder ICM Limited, along with a share purchase plan (SPP), to raise an additional A$25-million.
The first tranche of the share placement, and the SPP shares, were issued at the end of January and early March respectively, while Resolute shareholders approved the Tranche 2 placement at an extraordinary general meeting held in February.
More than 14.9-million shares were issued to ICM and Resolute directors in April, with the remaining 7.7-million shares issued to ICM on Wednesday, completing the second tranche placement.