Gold developer Catalyst Metals was asking investors to chip in $20 million to help development and exploration at its projects in WA’s Eastern Goldfields and Victoria’s Bendigo region.
The offer was priced at $1 a share, which was a 21.9 per cent discount to the last close and 24.9 per cent lower than the 15-day volume weighted average price. It was structured as a single tranche placement.
Catalyst’s Marymia project, which it has just brought from Vango, in the Eastern Goldfields has a 10.4 million tonnes mineral resource estimate at 3 grams per million tonnes of gold. The raising’s proceeds would also fund capital equipment at the Henty gold mine and general working capital. Argonaut Securities, Canaccord Genuity and Morgans Corporate were the joint lead managers and bookrunners. Ord Minnett was the co-manager. Bids were due 5pm Wednesday for Asia Pacific investors and 8am Thursday for the rest of the world.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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