https://www.miningweekly.com

Tigers Realm raises funds

20th December 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Tigers Real Coal has completed the institutional component of a near $40-million capital raise to fund the repayment of debt and capital expenditure at its Amaam coal project, in Russia.

The institutional entitlement component of its 13-for-4 accelerated renounceable entitlement offer, which was priced at 1c a share, raised a gross proceed of around A$39.7-million, or $27.3-million.


Tigers Realm on Friday said that the retail entitlement component of the offer would now open on December 23, and will close on January 22.

Eligible retail shareholders would also be allowed to subscribe for 13 new shares for every four Tigers Realm shares held, at a price of 1c each.


The company has told shareholders that $20.5-million of the funds raised would go towards settling existing shareholder debt, while a further $5-million will be spent on the early repayment of leasing obligations, $6.5-million on capital expenditure at the Amaam mine and port, $6-million on working capital, and a further $2-million on license compliance drilling.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.039 0.759s - 110pq - 2rq
Subscribe Now