Paladin Energy (ASX:PDN) and Domain (ASX:DHG) launch major capital moves – The Market Herald


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Paladin Energy (PDN) has announced a major fundraising that will allow it to restart production at the Langer Heinrich uranium mine in Namibia – a mine that closed in 2018 due to low uranium prices.

Paladin is raising $200 million through a fully secured institutional placement and it will seek an additional $15 million through a stock purchase plan.

Paladin, which owns 75% of the mine, will then have nearly $260 million to fund working capital, fees and restart capital requirements. The company is targeting commercial uranium production in 2024.

The SPP opens on Wednesday. The shares will be issued at 72 cents, a discount of approximately 9% from the previous closing market price.

Paladin’s market capitalization is well over $2 billion and trading in the stock is up more than 3% on the news.

Online real estate marketplace provider Domain Holdings (DHG) today launched a $180 million rights offering with $3.80 shares to acquire campaign management platform Realbase.

The purchase price is $180 million plus an additional $50 million dependent on performance targets.

The shares last traded at $4.01 and DHG has a market capitalization of $2.34 billion.

Now that the Macarthur Minerals (MIO) Lake Giles high-grade magnetite iron ore project has been deemed feasible, the company is pushing towards production.

The next major step is to secure funding for the project but, in the meantime, a $7.5 million private placement, raised at a small premium, will keep Macarthur’s work on track.

CEO Andrew Bruton said there has been growing interest in the project.

“This puts us in the category of what I would consider to be the most technically advanced magnetite project in the Yilgarn area of ​​Western Australia at present,” he said.

“So subject to securing project funding, we’re poised to be a frontrunner in the region and I think that’s really where the interest is being generated from now on – the people see how advanced we are.”

Macarthur Minerals has a market capitalization of nearly $80 million and trading in the shares has held up above the issue price of 50 cents.

Great Boulder Resources (GBR) is raising a similar amount.

A $7 million placement will fund the company’s aggressive drilling program at its Mulga Bill prospect, which is located at Great Boulder’s flagship Side Well Gold project in Meekatharra, Western Australia.

Great Boulders managing director, geologist Andrew Paterson, said gold had been identified over a strike length of 6 kilometres.

“Our highest dosages there were intersections like 3 meters at 150 grams per ton,” he said.

“Five kilometers south of that in mid-February we announced an air core (drill) strike of 24 grams per tonne, so we get these zones of high-grade gold mineralization over a very long strike. .

“We don’t have enough drilling yet to know how big it is, but I’m pretty comfortable with the fact that we have a potential million ounce opportunity here and we’re very focused on making it happen. of that.”

Great Boulder has a market capitalization approaching $45 million and the stock rose within pennies of the 11 cent increase price.

Shares of Latin Resources (LRS) soared on a $1.2 million cash injection when the top shareholder exercised more than 100 million options.

Integra Capital founder Jose Manzano exercised the options several months before expiration, increasing his stake in the company to 13.4%.

LRS plans to use the money to expand work on its lithium project in Brazil.

Integra Capital is a joint venture partner in the company’s lithium project in Argentina.

Latin Resources shares rose nearly 60% on the news.

Also today, BPM Minerals (BPM), Law Finance (LAW) and Payright (PYR) announced fundraising events, details of which are expected to be released early next week.

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