Someone at The West either sticking the boot in or is behind the...

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.