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Sihayo hoping to raise A$11m

26th April 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Sihayo Gold is hoping to raise A$11.7-million through a pro-rata non-renounceable entitlement offer of four fully paid shares for every five shares held by eligible shareholders.

The entitlement offer will be priced at 0.4c a share, and will open on May 4 and close on May 13.

Sihayo said on Tuesday that the funds raised would be used to repay shareholder loans, complete drilling at its Sihorbo South and Sihayo underground operations in Indonesia, as well as associated concept studies, to continue permitting of the Sihayo starter project, and to fund general working capital.

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