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Greatland Gold PLC - London-headquartered mine developer and explorer focused on Western Australia - Proposes to raise a minimum of USD30 million through a placing at a price of 8.2 pence per share. This will be conducted through a bookbuild process, it explains, and launches immediately. The issue price represents a 13% discount to the firm's closing price on Wednesday.
Company intends to use the proceeds to fund the continued development of Havieron in conjunction with joint venture partner, Newcrest Mining Ltd.
Greatland says Tribeca Investment Partners intends to provide a cornerstone investment through the placing of USD13.8 million. It has also agreed to work with the company to provide USD27.6 million of additional funding.
Current stock price: 9.39 pence
12-month change: down 44%
By Heather Rydings; heatherrydings@alliancenews.com
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