Ann: Proposed Share Consolidation, page-9

• $65 million share placement at 16 cents per share to take
Capricorn’s cash balance to approximately $90 million1.
• Placement has been underpinned by two current Capricorn
substantial shareholders, several leading Australian
institutional investors and several of the founders of the
successful gold mining company Equigold NL.
• Proceeds to be used to expedite development plans with a
target to commence construction in the March 2020 quarter
and targeting gold production around a year later.
• This equity raising enables Capricorn to satisfy a key hurdle
to the securing of the $107 million debt and gold hedging
facility previously offered by Macquarie Bank.