Placement
CopperCo Limited (‘CopperCo’ or ‘The Company’) is very pleased to announce that it has firm commitments for a share and note placement with Australian and European institutional, sophisticated and professional investors to raise A$30 million.
The purpose of the equity raising is for:
• the production expansion from 19,000 to 25,000 tonnes per annum copper cathode,
• the accelerated exploration programme in assessing the Lady Annie, Mount Kelly, Buckley River and regional oxide, transitional, and sulphide copper resources, and
• working capital.
The placement will comprise A$24.5 million from the issue of 54.4 million shares at 45 cents per share of which A$1.5 million is subject to CopperCo shareholder approval under the ASX Listing Rule 7.1. In addition, the Company will, subject to shareholder approval under the ASX Listing Rule 7.1, place Convertible Notes (“Note”) for the amount of $5.5 million. The issue price represents a 13% discount to the volume weighted average price for the five days ended Friday 23 February, 2007.
- Forums
- ASX - By Stock
- CUO
- placement
CUO
copperco limited
placement
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CUO (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
Previous Video
Next Video
SPONSORED BY The Market Online