Beadell raises funds for Tucano plant
PERTH (miningweekly.com) – Gold miner Beadell Resources will raise some A$11.8-million through a share placement to international institutional and sophisticated investors to fund the ongoing mill expansion at the Tucano project, in Brazil.
The ASX-listed company will issue some 218.3-million fully paid ordinary shares, at a price of 5.4c each to raise the funds. The shares will be issued under Beadell’s placement capacity, and will not require shareholder approval.
“We are pleased to have the continued support of a number of international institutional investors, including our major shareholders,” said Beadell MD and CEO Nicole Adshead-Bell.
“This financing enables the company to remain focused on the core goal of improving the financial performance of Tucano. This will, in turn, provide the platform to advance our exploration effort, with the primary aim of defining the magnitude of multiple in-mine and near-mine gold discoveries that are not in a resource category.”
In addition to footing the completion of the Tucano plant upgrade, 30% of the net proceeds from the raising will be applied to the outstanding loan to service provider MACA under the terms of a loan agreement announced in June.
Comments
The
functionality
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