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Ashurst handles $107 million capital raising

Ashurst handles $107 million capital raising

Ashurst has advised multi commodity explorer and miner Alkaneon on a $107 million capital raising.

Firms: Ashurst (Alkane Resources Ltd)

Deal: Capital raising: entitlement offer and placements raising

Area: Corporate

Value: $107 million

Key players: Roger Davies was Ashurst’s lead partner

Deal significance: Multi commodity explorer and miner Alkane is, over the next two years, planning to develop two significant resource projects in central west NSW, namely the Tomingley Gold Project and the Dubbo Zirconia Project, which will have a combined capital expenditure of approximately $1 billion. The deal was partially underwritten by Regal Funds Management Pty Limited and sub-underwritten by Gandel Metals Pty Ltd, an investment company associated with Ian Gandel, a director of Alkane.

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