Hancock subsidiary takes stake in Catalyst
PERTH (miningweekly.com) – A subsidiary of miner Hancock Prospecting has taken a A$7.87-million stake in ASX-listed Catalyst Metals.
Catalyst on Wednesday reported that Gold Exploration Victoria had agreed to subscribe for 3.5-million fully paid ordinary shares, at a price of A$2.25 each, giving Catalyst’s joint venture partner in the Four Eagles gold project a 14.8% stake in the company, elevating it to the largest shareholder.
The share placement will be made under Catalyst’s existing placement capacity, and will not require shareholder approval.
The company said on Wednesday that proceeds from the share placement would be used to strengthen the company’s working capital position and to advance the Four Eagles and Tandarra gold projects, as well as allow Catalyst to pursue aggressive exploration programmes in the Whitelaw gold belt and adjacent belts north of the Fosterville and Inglewood goldfields.
“This additional investment by Gold Exploration Victoria into our company further cements the strong working relationship that has been built between both companies technically and corporately over the past five years via a number of joint ventures over the Whitelaw gold belt,” said Catalyst chairperson Stephen Boston.
“Catalyst finds itself in a very strong financial position as it embarks upon its biggest exploration programme in 2020.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
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














