AFR Street Talk - Dacian Gold bites recap bullet

Dacian Gold bites recap bullet; Canaccord, Macquarie on ticket.

Sarah Thompson, Anthony Macdonald and Tim Boyd - Apr 7, 2020 – 4.40pm (AFR Street Talk)

It's Dacian Gold's turn to step up to the recapitalisation plate.

Trading in Dacian Gold has been suspended since the start of February. Arsineh Houspian

Street Talk understands the troubled gold miner was set to launch a $100 million-odd capital raising on Wednesday to help save it.

Sources said the deal was structured as a rights issue and placement, likely split 70/30, and priced at 30¢ a share.

Dacian's shares last closed at $1.40 and have been suspended from trading since the start of February.

Canaccord Genuity and Macquarie Capital were arranging the investor meetings and were expected to launch the deal overnight.

more to come