Capricorn shakes the tin
PERTH (miningweekly.com) – ASX-listed Capricorn Metals has launched a A$10.1-million equity raising to support activities of its Karlawinda gold project, in Western Australia.
The company on Thursday said that it would undertake an accelerated pro-rata non-renounceable entitlement offer of one new share for every five shares held.
The offer will be priced at 6.5c a share, with some 156.1-million new shares on offer. The offer price represented a 19.6% discount to Capricorn’s theoretical ex-rights price, and a 22.6% discount to its last trading price.
Following the entitlement offer, the company would have some 936.5-million shares on issue.
“The equity raising represents another major milestone for Capricorn. This equity raising allows Capricorn to maintain exploration momentum at our Karlawinda gold project and to strengthen the balance sheet,” said non-executive chairperson Doug Jendry.
“We are also delighted to have the ability to provide existing shareholders the opportunity to invest further in Capricorn at this exciting time.”
The funds would allow Capricorn to progress work at the Karlawinda project, including the relocation of the recently acquired accommodation village and mining infrastructure facilities, and to continue exploration work.
The company earlier this week flagged an unsolicited takeover offer from a consortium comprising of Emerald Resources and Hawkes Point Holdings, which was rejected. However, the company has opened up its data rooms to other potential buyers.
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