AFR Article copied below.Pacifico Minerals readies raising; Shaw...

AFR Article copied below.

Pacifico Minerals readies raising; Shaw and Partners, Euroz on board

Base metals explorer Pacifico Minerals is poised to launch a cash call to fund a definitive feasibility study at its flagship lead, silver and zinc exploration project in Western Australia.

Street Talk understands Pacifico was on the hunt for up to $14 million through a fully underwritten placement of new shares and a share purchase plan.
The deal was set to priced at 1.8¢ a share, which represented an 18.2 per cent discount to Pacifico's last close and an 11.3 per cent discount to the 10-day VWAP.

Shaw and Partners and Euroz Securities were joint lead managers on the offer.

Money raised would go towards funding a feasibility study for Pacifico's Sorby Hills Project, near Kununurra in Western Australia. Pacifico owns 75 per cent of the project, with the remainder owned by Chinese silver producer Henan Yuguang.

A pre-feasbility study of the project was released last month, which anticipated the project would produce 81,000 dry tonnes of 62 per cent lead-silver concentrate every year, on average. The study estimated it would cost $183 million to bring Sorby Hills to production.

Pacifico shares are expected to go into a trading halt on Wednesday morning.