https://www.engineeringnews.co.za

Doray raises A$24.9m

26th October 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner Doray Minerals has raised some A$24.9-million through an institutional placement to fund near-mine exploration work and reduce its debt.

The company on Wednesday said that it had received firm commitments from new and existing institutional investors to take up about 46.1-million fully paid ordinary shares, priced at 54c each.

The offer price represents a discount of 7.7% to Doray’s closing price and a 9.4% discount to the ten-day volume-weighted average price.

Doray MD Allan Kelly told shareholders that the company was pleased with the interest received, and had welcomed a number of new shareholders from across the UK, North America and Asia.

“Along with providing us the security of a substantial working capital buffer during the ongoing Deflector ramp-up, this raising also provides a stronger balance sheet from which to negotiate a resculpting of our current debt repayment profile,” Kelly said.

Following the placement, Doray will have some 356.9-million shares on issue.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 
Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 0.086s - 140pq - 2rq
Subscribe Now