https://www.miningweekly.com

Resolute completes share placement for A$195m raise

13th May 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Resolute Mining has completed a A$195-million capital raise after gaining shareholder approval for the second tranche of its placement.

The miner in January announced plans for the capital raise to repay its $130-million Toro Gold bridge facility.

The capital raise consisted of an initial A$146-million fully underwritten institutional placement, while an additional A$25-million was raised through a placement to Resolute’s directors and its largest shareholder ICM Limited, along with a share purchase plan (SPP), to raise an additional A$25-million.

The first tranche of the share placement, and the SPP shares, were issued at the end of January and early March respectively, while Resolute shareholders approved the Tranche 2 placement at an extraordinary general meeting held in February.

More than 14.9-million shares were issued to ICM and Resolute directors in April, with the remaining 7.7-million shares issued to ICM on Wednesday, completing the second tranche placement.

Edited by Creamer Media Reporter

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION