RE: RE: CAI Trading Suspension19 Apr 2023 08:27
From the West Australian
Wed, 19 April 2023 6:13AM
Gold producer Calidus Resources is rattling the tin for $20 million to fund the expansion of its Warrawoona gold project in the Pilbara.
The Dave Reeves-led company is in the process of ramping up production to 70,000-80,000 ounces for the first stage of the project, located near Marble Bar.
Warrawoona gold sales in the March quarter totalled 16,000oz, according to an early report released by Calidus, up from 11,800 in the previous period.
A terms sheet sent to potential investors shows the raising was priced at 21¢ a share, representing an almost 21 per cent discount to Calidus’ closing price of 26.5¢ on Tuesday before it called a trading halt.
The company’s largest shareholder Alkane Resources has subscribed for $2.5m in the placement.