PERTH (miningweekly.com) – Junior Beacon Minerals is hoping to raise A$7.1-million through a fully underwritten non-renounceable entitlement issue.
The one-for-five entitlement issue will be priced at 1.7c a share, with eligible shareholders to receive one free attaching listed option for every two new shares subscribed for.
The options will have an exercise price of 2.5c each, and an expiry date of August 2022.
Beacon told shareholders on Tuesday that the funds will go towards completing the construction and commissioning of the 500 000 t/y gold processing facility at the Jaurdi gold project, in Western Australia, and towards the evaluation, acquisition and development of gold projects within a viable trucking distance of the Juardi gold project.
On the completion of the entitlement offer, Beacon will have more than 2.5-million shares on issue and more than 1-million options.