Sydney - Monday - July 24: (RWE Australian Business News) - Agincourt Resources Ltd (AGC) reports an Agreement to acquire the multi-million ounce Martabe Gold and Silver Project (Martabe) in Indonesia from Newmont Mining Corporation (Newmont). Agincourt also reporst the successful equity capital raising of A$150 million to fund, inter alia: the acquisition price, completion of the bankable feasibility study and environmental approvals. Martabe, located in Sumatra, Indonesia, is one of the most attractive undeveloped gold projects globally, with a JORC resource1 of 5.3 million ounces of gold and 54.8 million ounces of silver hosted within a large epithermal system. Agincourt will acquire a 100% interest in Martabe at an acquisition cost of US$80.25 million, representing a gold equivalent resource price of less than A$18 per ounce. Wilson HTM and Deutsche Bank AG are the Joint Lead Managers and Underwriters for the placement of 86.96 million shares at an issue price of A$1.15 per share to raise approximately A$100 million. Up to an additional A$50 million is being invested by Newmont at the same issue price.
AGC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)