Sumatra raises A$20m for Tembang development
PERTH (miningweekly.com) – Metals developer Sumatra Copper & Gold is looking to raise some A$20-million through a rights issue to underpin the development of its Tembang gold/silver project, in Indonesia.
Under the fully underwritten rights issue, Sumatra would issue some 117.8-million chess depository interest (CDI) shares at 17c each. The rights issue would proceed on the basis of two new CDIs for every five held on the record date.
Sumatra said this week that its major shareholder and cornerstone investor, Provident Capital Partners, has agreed to fully sub-underwrite the offer.
Funds raised under the offer would be used for working capital to progress the Tembang project, and to assess and progress potential new opportunities, Sumatra said.
The Tembang project was expected to start gold production by next year, with Stage 1 delivering some 30 000 oz/y of gold and 200 000 oz/y of silver. Stage 2 production, which would start in 2015, would see production expand to 50 000 oz/y of gold and 500 000 oz/y of silver.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
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















