Clayton Utz advising on $43.2m placement by West African Resources

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Clayton Utz advising on $43.2m placement by West African Resources

National firm Clayton Utz is advising Euroz and Sprott on a placement that forms part of a debt and equity funding package that was announced to the ASX earlier this week.

Firm: Clayton Utz (Euroz Securities Limited, Sprott Capital Partners)

Deal: Euroz and Sprott will be as joint lead managers, underwriters and bookrunners to West African Resources Limited’s $43.2 million placement, which forms part of the company’s $326 million debt and equity funding package announced to the ASX this Wednesday.

Value: $43.2 million

Area: Corporate

Key players: The Clayton Utz team is being led by partner Mark Paganin, who is being supported by special counsel Stephen Neale and lawyers Benjamin Depiazzi and Matt Johns.


Deal significance: The placement will be undertaken as a single tranche of approximately 173 million shares at $0.25 per share and the shares will be issued to eligible sophisticated, professional and other institutional investors, the firm noted in a statement.

Upon completion of the fundraising, West African Resources will be fully-funded through to gold production at the company’s Sanbrado Gold Project in Burkina Faso, Clayton Utz said.

Jerome Doraisamy

Jerome Doraisamy

Jerome Doraisamy is a senior writer for Lawyers Weekly and Wellness Daily at Momentum Media.

Jerome is an admitted solicitor in New South Wales and, prior to joining the team in early 2018, he worked in both commercial and governmental legal roles and has worked as a public speaker and consultant to law firms, universities and high schools across the country and internationally. He is also the author of The Wellness Doctrines self-help book series and is an adjunct lecturer at the University of Western Australia.

Jerome graduated from the University of Technology, Sydney with a Bachelor of Laws and Bachelor of Arts in Communication (Social Inquiry).

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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