Zenith sets sights on A$5m raise
PERTH (miningweekly.com) – ASX-listed Zenith Minerals will raise A$5-million in an oversubscribed share placement to institutional and sophisticated investors, to accelerate exploration at its core gold projects.
The junior company on Tuesday noted that 51-million new shares would be issued at a price of 10c each, representing a 13% discount to Zenith’s last trading price on the ASX.
The shares will be issued under the company’s existing placement capacity.
“We are very pleased by the significant support for the placement, reflecting strong investor interest in the company, its gold exploration projects and the optinality that our wide exploration portfolio provides,” said MD Mark Clifford.
He noted that the funds raised would enable Zenith to progress an active exploration programme over the coming period.
Drilling was specifically planned for the Red Mountain gold project, in Queensland, and the Split Rocks gold project, in Western Australia, while surface geochemical programmes at the company’s Flanagans gold and Develin Creek copper/zinc project, both in Queensland, have also started.
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