...more CRs to be expected from mining juniors/developers.
...window of opportunity for them to seize while there is appetite. Spartan Resources in $80m raise, selldown Sarah Thompson, Kanika Sood and Emma Rapaport
Apr 18, 2024 – 10.10am
Gold hopeful Spartan Resources, capitalised at $632 million on the ASX, has kicked off an $80 million cash call.
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.
Shares last traded at 66¢. It was previously known as Gascoyne Resources.
