Altus Strategies PLC - Didcot, England-based mining royalty company - Raises USD26.1 million, around GBP19.8 million through the placing and subscription of 36.9 million shares at a price of 53.5 pence each.
BMO Capital Markets Ltd acted as sole bookrunner, while Shard Capital Partners LLP and SP Angel Corporate Finance LLP acted as lead managers.
Proceeds will go towards the acquisition of a gold-focused portfolio of cash-paying royalties in Australia and Africa. Company now has 117.3 million shares issued overall.
"The completion of this fundraise allows Altus to rapidly move forward with the completion of our recently announced proposed acquisition of a diversified and gold focussed portfolio of up to 24 royalties from Newcrest for USD24 million. The portfolio includes royalties over two producing gold mines, one near-production gold mine as well as up to 15 development stage projects and six exploration stage projects, with 23 of the royalties being in Australia and one in Cote d'Ivoire," ays Chief Executive Steve Poulton.
Current stock price: 53.50 pence, down 15% on Tuesday
Year-to-date change: down 31%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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