Allegiance misses raising mark
PERTH (miningweekly.com) – Coal miner Allegiance Coal has fallen short of its A$33.6-million capital raise aspirations.
The company in October launched an eight-for-five entitlement offer, priced at 4c a share, to raise up to A$33.6-million before costs. The institutional component of the entitlement offer was completed last month, raising A$15-million.
Allegiance on Monday said that the retail component of the offer had now closed, with 181.5-million shares subscribed for, raising A$9.07-million.
Proceeds of the capital raising are to be applied towards equipment purchases and refurbishment at Black Warrior and New Elk mines, in the US, and for working capital and offer costs.
“We are delighted with the participation from our existing shareholders. We now have the financial support to optimise our assets, leveraging the favourable coal demand environment,” said CEO Jonathan Romcke.
“We look forward to delivering strong outcomes for new and existing investors as production ramps up,” he added.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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