Calidus Resources (ASX: CAI)
The stock has been halted pending an announcement.
It has been reported in the Australian media that Calidus are looking to raise up to A$20 million, at 67 cents, for around a 7.3% dilution.
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| Calidus Resources | ASX: CAI |
| Stage | Production, exploration |
| Metals | Gold, lithium |
| Market Cap | A$289 m @ A$0.71 |
| Location | Pilbara, Western Australia |
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Calidus Resources commemorative coin
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Calidus Resources stock halted – A$20 million financing underway according to local media
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Calidus Resources (ASX: CAI) has halted trading of their stock on the ASX pending an announcement.
It is reported in the Australian media (see the source media link at the bottom) that Calidus is seeking to raise A$20 million, at 67 cents per share, a 7.3% dilution.
The placing price of 67 c is around a 12.4% discount to the prevailing market price at the time of the trading halt.
It was stated that Alkane Resources, CAI’s largest shareholder, had bid for A$4 million, and had been guaranteed an allocation of a minimum of A$1.88 million, according to the term sheet.
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The stated use of funds is as follows;
lithium exploration and demerger ($4 million)
Gold exploration ($5 million)
Blue Spec early works ($3 million)
Plant expansion works ($3 million)
General working capital ($5 million)
The joint lead managers and book runners were Euroz Hartleys and Blue Ocean Equities.
They were calling for bids by 4.30pm on Wednesday 10th August 2022, local time.
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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Calidus Resources, bought in the market at the prevailing price on the days of purchase.
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