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Atlas extends capital raise deadline

13th July 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Iron-ore miner Atlas Iron has extended the closing date of its capital raise from July 13 to July 16, as the company hoped to attract more interest.

“The last few days have by far been the strongest period of uptake in the shareholder participation offer (SPO) to date. Atlas has decided to extend the closing date for the SPO and general public placement in light of this recent uptake,” said MD David Flanagan.

In June this year, Atlas announced plans to raise up to A$180-million through a share placement and a participation offer. Some A$50-million was expected to be raised through a share placement to new and existing shareholders, as well as a further A$30-million from contractors, while A$100-million would be raised through the participation offer.

Atlas recently resumed mining operations at its Abydos, Wodgina and Mt Webber mines, and was targeting to reach a rate of production from its three Pilbara iron-ore mines of 14-million to 15-million tonnes per year by year-end.

Edited by Creamer Media Reporter

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