https://www.engineeringnews.co.za

Golden Rim raises exploration cash

15th August 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Golden Rim Resources will raise A$5.3-million through a share placement and rights issue to accelerate drilling work at its Kouri gold project, in Burkina Faso.

An initial A$1.82-million will be raised through the placement of some 130-million shares, at a price of 1.4c each to institutional and sophisticated investors, with the balance of the funds to be raised through a 3-for-11 pro-rata renounceable offer, also priced at 1.4c each.

The offer price represented a 17.6% discount to Golden Rim’s last trading price, and a 23.2% discount to the 15-day volume weighted average share price.

The company on Thursday told shareholders that funds raised will go towards exploration work at Kouri, as well as for general working capital.

Drilling is scheduled to start around mid-September.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

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:0.066 0.985s - 140pq - 2rq
Subscribe Now