Firefinch completes major capital raise
PERTH (miningweekly.com) – ASX-listed Firefinch has completed a share placement to raise A$47-million.
The company earlier this month announced plans to place some 117-million new shares, at a price of 40c each, to fund the ramp-up of production at its Morila gold mine, in Mali, to 200 000 oz of gold by 2024, accelerate exploration, and facilitate the demerger of its Goulamina lithium project.
“We thank our existing shareholders for their ongoing support and welcome many new high-quality institutions to our register and the Firefinch growth story,” said MD Michael Anderson.
“This support led to demand in excess of the funds sought by the company, and we are delighted with the response to Firefinch’s story. This equity funding, combined with the expected debt funding during the September quarter, will enable us to deliver on our strategic vision of becoming a West African gold producer of scale, as well as progress our Goulamina demerger plans.”
Settlement of the share placement is scheduled for the end of June, and the new shares will start trading on July 1.
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