Capricorn Metals launches $200m capital raising
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More news: Capricorn Metals has announced an institutional placement to raise around $200 million to help the gold miner fully fund the expansion of its Karlawinda mine and the development of its Mount Gibson project.
The offer price of $6 per share represents a 4.9% discount to Capricorn's last closing price of $6.31 on Tuesday and a 6.3% discount to its 10-day volume-weighted average price of $6.40.
The placement will issue around 33.3 million shares, representing 8.8% of the company's existing shares.
The announcement comes a day after Capricorn's board approved the expansion of the Karlawinda gold project in the Pilbara region of Western Australia.
Capricorn Metals halts trading ahead of capital raise results
The news: Gold miner Capricorn Metals has entered a trading halt on the ASX, ahead of publishing the results of a material capital raising.
The numbers: Capricorn shares last traded at $6.31, having closed higher on Monday following news of an approved expansion to its Karlawinda gold project in Western Australia.
The context: The trading halt will remain in place until the earlier of the announcement or the start of trading on Friday, unless the ASX decides otherwise, the company said.
The sources: ASX announcement, ASX announcement
