https://www.miningweekly.com

Core completes first part of capital raise

11th August 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Lithium developer Core Lithium has completed its A$91-million capital raise announced earlier this month, as part of a larger capital raise.

Core previously unveiled a A$106-million capital raise to fund the development of its Finniss lithium project, in the Northern Territory, consisting of the fully underwritten placement and a share purchase plan (SPP).

Core on Wednesday told shareholders that it had received firm commitment for the placement of 293-million shares, at a price of 31c each. The settlement of the new shares is expected on August 16.

“We are very pleased with the overwhelming support received in the placement in this transformational moment for Core. We thank our existing shareholders for their ongoing support and welcome a number of new, high quality institutional investors to our register, supporting our journey to being Australia’s next lithium producer,” said Core MD Stephen Biggins.

“Together with the Gangfeng equity investment and the SPP, we are now fully funded to complete Stage 1 development of Finniss and have the financial flexibility to assess future growth initiatives. With the support of our high quality shareholder base, we look forward to executing on our plan to commence anticipated first production in late 2022.”

Meanwhile, the SPP, which is targeted to raise a further A$15-million, will open on August 13 and will close on September 2.

Edited by Creamer Media Reporter

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION