Funds used to extend drillout of silver equivalent resource at Nimbus
By Devika Patel
Knoxville, Tenn., Aug. 30 - MacPhersons Resources Ltd. said it has received firm commitments for a A$4 million private placement of shares. In addition, RK Mine Finance will buy A$8.6 million of the company's shares. Casimir Capital is the lead manager.
In the A$4 million deal, the company will sell ordinary shares at a minimum of A$0.38 per share, a 2.56% discount to the Aug. 29 closing share price of A$0.39. RK Mine Finance will buy 15,789,474 ordinary shares at A$0.418 per share, a 7.18% premium to the Aug. 29 closing price, for A$6.6 million and a further 5,263,157 shares at A$0.38 per share for A$2 million.
"The funds raised will be used to continue to extend the drillout of the 12.5Moz silver equivalent resource at MacPhersons' 100% owned Nimbus Silver Project," managing director Morrie Goodz said in a press release. "They will also be used to take the commissioning and expansion of the Nimbus Silver and Gold Mill to the next stage by purchasing the new 480,000tpa Merrill Crowe plant."
The gold mining company is based in Kalgoorlie, Australia.
| Issuer: | MacPhersons Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$12.6 million
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| Price: | A$0.38, A$0.418
|
| Warrants: | No
|
| Agent: | Casimir Capital
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| Investor: | RK Mine Finance (for A$8.6 million)
|
| Pricing date: | Aug. 30
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| Stock symbol: | Australia: MRP
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| Stock price: | A$0.39 at close Aug. 29
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