Powered by MOMENTUM MEDIA
subscribe to our newsletter sign up
West African Resources sees support for debt and equity funding
LIVE
Live: Royal Commission into the Management of Police Informants public hearings:

West African Resources sees support for debt and equity funding

Gold mining

Clayton Utz is advising the joint lead managers, underwriters and bookrunners for West African Resources Limited’s placement forming part of a debt and equity funding package.

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

Deal: Clayton Utz is advising the joint lead managers, underwrites and bookrunners for West African Resources Limited’s placement forming part of a debt and equity funding package.

Value: $43.2 million

Advertisement
Advertisement

Area: Corporate, resources

Key players: Clayton Utz’s corporate partner Mark Paganin is leading the team with support from special counsel Stephen Neale and lawyers Benjamin Depiazzi and Matt Johns.

Deal significance: West African Resources Limited is a gold-copper exploration company headquartered in Australia.

Euroz Securities Limited is joined by Sprott Capital Partners, a division of Sprott Private Wealth LP, in acting as joint lead managers, underwriters and bookrunners for West African Resources Limited’s $43.2 million placement.

This forms part of West African Resources Limited’s $326 million debt and equity funding package that was recently announced to the ASX.

The placement will be undertaken as a single tranche.

Approximately 173 million shares (at $0.25) per share will be issued to “eligible sophisticated, professional and other institutional investors”, according to a statement from Clayton Utz.

On the fundraising’s completion, West African Resources will be fully funded through to gold production at the company’s Sanbrado Gold project in Burkina Faso, West Africa.

 

FROM THE WEB
Recommended by Spike Native Network