Gold hopeful Spartan Resources, capitalised at $632 million on the ASX, has kicked off an $80 million cash call. Spartan Resources was known as Gascoyne Resources until mid 2023. Asineh Houspian
Sources said three brokers, Canaccord Genuity, Euroz Hartleys and Sternship Advisers, have underwritten the raise. The pricing is expected to land between mid-to-high 50s.
The cash call comes on the back of a new discovery called, Pepper.
Fund manager sources said a large shareholder, who inherited the holding from Gascoyne days and has been a potential overhang on the stock, would exit alongside the raising.
SPR Price at posting:
65.5¢ Sentiment: Hold Disclosure: Held
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