https://www.engineeringnews.co.za

Endeavour to raise C$125m through bought deal offering

14th June 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – TSX-listed Endeavour Mining planned to raise C$125-million to expand current exploration programmes in West Africa in a deal with a syndicate of underwriters led by BMO Capital Markets.

The underwriters would buy, on a bought deal basis, some 6.25-million ordinary shares at $20 apiece, with an option to acquire a further up to 15% of the offering to cover overallotments, if any.

The net proceeds would be used to accelerate Endeavour's organic growth potential through the expansion of current exploration programmes, for the potential development of the Ity carbon-in-leach project and for general corporate purposes.

“The proceeds will also assist in maintaining a healthy balance sheet over the medium term with a sound liquidity position while implementing this organic growth strategy,” the company commented.

As part of the offering, La Mancha Holding would acquire a minimum of $15-million of common shares on the same terms and conditions.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

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:0.051 1.07s - 140pq - 2rq
Subscribe Now