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Originally posted by bevter
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TROY ANNOUNCES SUCCESSFUL $35 MILLION PLACEMENT Perth, Western Australia: Troy Resources Limited (ASX: TRY, Troy or the Company) is pleased to announce a placement of 87.5 million new ordinary shares at an issue price of $0.40 per share to qualified institutional and sophisticated investors to raise $35 million (before issue costs) (Placement). The Placement shares will be issued via two tranches: • Tranche 1 – unconditional placement of 19 million shares issued under the Company’s existing placement capacity pursuant to ASX Listing Rule 7.1 (to raise approximately $7.6 million); and • Tranche 2 – conditional placement of 68.5 million shares (to raise approximately $27.4 million), subject to shareholder approval at a General Meeting of the Company’s shareholders, expected to be held on Thursday, 4 June 2015. A Notice of Meeting will be dispatched to all shareholders shortly. The funds raised via the Placement will be applied towards: • A significant, brownfields exploration campaign at Karouni; • Working capital for the build-up of full scale mining operations and commissioning of the processing plant at Karouni; and • Strengthening the balance sheet to provide financial flexibility and for ongoing business development opportunities. Commenting on the announcement, Managing Director and CEO Martin Purvis said: “We are pleased with the outcome of the Placement. We thank our existing shareholders for their strong support and welcome a number of new, high quality institutions to the Troy register. In addition, we would like to thank Euroz and Argonaut who have done an excellent job with this Placement. The Placement puts Troy in a strong position to pursue its growth strategy." Details of the Placement are set out in an Investor Presentation which Troy has lodged with ASX today. The Investor Presentation contains important information, including expected use of funds, risk factors and foreign selling restrictions with respect to the Placement. New shares issued under the Placement will rank equally with the Company's existing ordinary shares on issue. Euroz Securities Limited (Euroz) acted as global co-ordinator, bookrunner and joint lead manager and Argonaut Capital Limited (Argonaut) acted as joint lead manager to the Placem
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No way I am going to participate in this CR. All was good in prev announcements and now out of the blue this. I will stick to best gold stocks NST, EVN and AQG. Lucky me I had only a small amount of TRY.
