...higher share price is an opportunity for a CR.
...discounted CR is the biggest risk to smaller cap resource stocks West African Resources in $120m cash call; Euroz Hartleys on ticket Sarah Thompson, Kanika Sood and Emma Rapaport
Jul 2, 2024 – 10.23am
West African Resources was in front of fund managers on Tuesday, seeking to raise $120 million via a single tranche placement.
The 87.6 million new shares were offered to investors at $1.37 apiece, a 13.8 per cent discount to the company’s last traded price and a 13.6 per cent discount to the five-day volume-weighted average price.
Euroz Hartleys was sole lead manager on the transaction, the proceeds of which will largely go towards funding WAF’s Kiaka gold project.
