Chalice targets A$100m capital raise
PERTH (miningweekly.com) – ASX- and TSX-listed Chalice Gold Mines has unveiled plans to raise A$100-milllion through an institutional placement and share purchase plan (SPP) to accelerate exploration activities and deliver a mineral resource and mining studies for the Julimar nickel/copper/platinum project, in Western Australia.
The institutional placement will consist of 24-million shares at a price of A$3.75 each, representing a 7.64% discount to the company’s last closing price on November 30, and a 3.9% discount to its five-day volume weighted average share price.
The institutional placement is expected to raise A$90-million, with Bell Porter Securities and Macquarie Capital acting as joint lead managers for the offer.
An SPP would also give shareholders the opportunity to subscribe for up to A$30 000 worth of additional shares, also at a price of A$3.75 a share, to raise an additional A$10-million.
The SPP is expected to open on December 8 and will close on January 12.
Chalice told shareholders that the raising would provide a two-year runway to support accelerated exploration and development at the Julimar project, including resource definition drilling, scoping and prefeasibility studies.
A maiden mineral resource is targeted for mid-2021.
A maiden scoping study at the Gonnevill deposit is targeted for the fourth quarter of next year, while a prefeasibility study is targeted for the fourth quarter of 2022.
Funds from the capital raise will also go toward supplementing existing cash on hand for corporate and working capital.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
