PERTH (miningweekly.com) – Gold and metals explorer Maximus Resources will raise A$3.1-million through a share placement to institutional, sophisticated and existing shareholders.
The company has completed a bookbuild for the capital raise, and will place more than 31.5-million new shares at a price of 9.5c each.
The issue price represented a 14% discount to Maximus’ 30-day volume weighted average share price.
“The board is delighted at the strong support that has been shown by existing shareholders and it welcomes all the new shareholders to the company. The placement represents a major endorsement for Maximus’ projects, the management team’s technical capabilities and importantly, the clear strategy of generating and drill testing a pipeline of targets capable of realising high-grade world class discoveries,” said Maximus MD Tim Wither.
“We are excited about the opportunities the new capital provides in allowing aggressive exploration in and around Wattle Dam, in conjunction with developing and growing the current resource at Redback, Larkinville and Eagles Nest.”