Ann: A$80m Fully Underwritten Equity Raising to Accelerate Explor, page-68

Someone at  The West either sticking the boot in or is behind the times?
….. or maybe they left out the word ‘once’?

cheers

https://thewest.com.au/business/min...never-and-pepper-drilling-campaign-c-14359124
Spartan Resources to fill its coffers with $80m for Never Never and Pepper drilling campaign

Adrian RausoThe West Australian
Thu, 18 April 2024 2:25PM
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Adrian Rauso


Spartan Resources Managing Director Simon. LawsonPhoto:Trevor Collens /Spartan Resources. Credit: Trevor Collens

Spartan Resources — the owner of the perennially-floundering Dalgaranga gold mine north-west of Mt Magnet — has tapped investors for $80 million to beef up the deposit that turned the company’s fortunes around.

Spartan said on Thursday it had locked in a fully underwritten capital raise consisting of a $47m institutional share placement and a 1-for-17 rights issue to existing shareholders for another $33m.

The capital raising is at 58¢ per share — a 11.5 per cent discount to Spartan’s last closing price of 65.5¢. Its stock has risen over 360 per cent in the past year on the back of high-grade discoveries at the Never Never deposit combined with the tailwind of a record gold price.