https://www.engineeringnews.co.za

Western Areas completes A$85m placement

10th March 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Nickel miner Western Areas has completed its A$85-million capital raise, receiving strong support from existing and new investors.

The company earlier this week announced plans for the capital raise, priced at A$2.15 a share, to fund the development of its Odysseus project, and to fund exploration and organic growth projects.

“The placement has been overwhelmingly supported by a range of domestic and international institutional investors which we see as vindication of the bright prospects for Western Areas,” said MD Dan Lougher.

“We are looking forward to advancing the development of the long-life, low-cost Odysseus underground mine towards scheduled production in mid-2023, and believe our landholdings provide significant brownfield exploration potential.”

Western Areas’ planned share purchase plan (SPP) will open on March 8 and will allow shareholders to subscribe for up to A$30 000 worth of additional shares in the company, also priced at A$2.15 each.

The company intends to cap the SPP at A$15-million, but retains the right to accept oversubscriptions or to scale back the applications.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

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:0.047 0.374s - 140pq - 2rq
Subscribe Now