Tanami dives on rights issue PDF Print E-mail
Monday, 04 February 2013 14:19

Shares in Tanami Gold have lost more than half their value after the company emerged from a trading halt to announce a deeply discounted $65.3 million rights issue.



The renounceable five-for-four rights issue will be priced at 20 cents, less than a third of the company's last traded price of 66.5 cents before a trading halt was called last month.

Tanami said the funds would be used to pay off its debt to AP Finance in full and fund the completion of a definitive feasibility study for its Central Tanami project.

The company's biggest shareholder Allied Properties Resources (33.7 per cent), which also owns AP Finance, will take part in the raising.

The company expects to issue a prospectus on the raising on Friday.


Related links:

Tanami Gold

For the latest news click here

For the latest Travel features click here

For the latest Food & Drink features click here

Follow myresources.com.au on Twitter

Add comment

Security code