"....He said First Quantum is on the lookout for acquisitions, but that the company would wait until there's some more clarity on copper prices and credit conditions."
Well now they have dollars
"JOHANNESBURG (miningweekly.com) – TSX-listed First Quantum Minerals has completed its overnight marketed public offering of common shares to raise C$345.7-million.
The company paced an estimated 9.3-million shares at an issue price of C$37 a share.
The net proceeds from the offering were expected to be used to continue with its committed capital projects, and to further strengthen its capital position and for general corporate purposes."
Regardless - that they were able to raise these funds is a positive sign for AVM, although AVM were looking a bank financing as opposed to a capital raising.
AVM Price at posting:
$1.42 Sentiment: Hold Disclosure: Held
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