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Resources company raises millions on ASX and AIM

Resources company raises millions on ASX and AIM

Gadens’ Sydney office has advised a dual-listed resources company on its capital raising to fund its projects in Peru and Chile.

Firms: Gadens (Metminco)

Deal: Institutional placing of shares on the Australian Stock Exchange (ASX) and AIM market of the

London Stock Exchange plc (AIM)

Value: $41.1 million

Area: Energy and resources

Key players: Gadens’ head of energy and resources, partner Kym Livesley, led the advisory team, assisted by senior associate Sally Weatherstone

Deal significance: Metminco has a portfolio of copper and gold projects in South America and the capital raised will be used to further develop its Los Colatos project in sourthern Peru and the Mollacas copper leach project in Chile. Gadens advised on the concurrent rights issue open to eligible shareholders at the same price as the institutional placing - $0.14 per share. Livesley said AIM is regaining its reputation as being an attractive secondary bourse for Australian companies with offshore assets. “Generally speaking, AIM investors tend to be more experienced and more comfortable investing in resource companies with assets in Africa and South America,” he said.

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Resources company raises millions on ASX and AIM
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