MacPhersons raises cash for Nimbus BFS
PERTH (miningweekly.com) – Metals miner MacPhersons Resources on Monday announced that it would raise up to A$10.4-million in a share placement to fund the bankable feasibility study (BFS) of its Nimbus silver/gold/zinc project, in Western Australia.
The ASX-listed miner said a share placement would be made to sophisticated and professional investors, with the shares to be priced at 16c each.
Shareholder Orion Mine Finance has committed to subscribe for up to A$6.5-million worth of shares, with the company’s equity interest to be capped at 19.9%.
MacPhersons chairperson Ashok Parekh has also agreed to subscribe for up to A$1-million worth of shares, subject to shareholder approval.
“The continued participation of Orion Mine Finance is welcomed by the company and will assist our ongoing programme of completing the BFS,” said Parekh.
He noted that continued in-fill and mine plan extensional drilling at Nimbus was delivering positive results.
Preliminary results from the BFS, which was scheduled for completion in the September quarter, indicated that lower capital costs not only had the potential to boost margins, but could also result in the cutoff grades of the project being reduced, which, in turn, could increase reserves and grow the mine life.
Scoping studies revealed that the project would require a total capital injection of between A$58-million and A$66-million, with all-in cash costs estimated at between A$12/oz and A$16/oz silver and between A$600/oz and A$1 050/oz gold.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...
VISIT SHOWROOM
CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...
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
