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JOHANNESBURG (miningweekly.com) – Aim- and ASX-listed Aureus Mining on Wednesday announced that the International Finance Corporation (IFC) has subscribed for 24.5-million units of the company’s shares, to raise gross proceeds of about £6.6-million.
The investment would allow Aureus to continue to build on its exploration programmes, particularly the Ndablama gold project, in Liberia, Aureus CEO David Reading said.
Each unit was placed at 27p and comprised one common share in the company and one-half of one common share purchase warrant. Each warrant would entitle the holder thereof to buy one share at a price of 38p for a period of 42 months.
The IFC would also have the right, but not the obligation, to maintain its pro rata shareholding in any future equity financing and, subject to maintaining a minimum shareholding, to nominate a director to the Aureus board.
“We are delighted to welcome IFC as a shareholder of the company. IFC is committed, as are we, to developing tangible benefits to West Africa,” Reading commented.
"Aureus is committed to working with local communities and implementing projects that follow best practice environmental and social standards. We are pleased to continue our support to Liberia by investing in companies and initiatives that will help grow and diversify the country's economy,” IFC global mining head Tom Butler commented.