Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: Thomson Reuters Stock Report
$25.00
Provider: GlobalData
$250.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Mining Group Limited To Raise Up To AUD 5 Million


Monday, 30 Jul 2012 07:57pm EDT 

Mining Group Limited announced that its proposed capital raising activities to raise a minimum of AUD 2.5 million and up to approximately AUD 5 million. The Company intends to conduct a pro-rata, renounceable rights issue of up to approximately 50,202,344 new shares on the basis of one new share for every one share held by shareholders on the record date at an issue price of AUD 0.10 per new share to raise up to approximately AUD 5,020,234 (Rights Issue). It is intended that the Rights Issue will be underwritten to AUD 2.5 million by Patersons Securities Limited. In addition to the Rights Issue, Mining Group has negotiated a short term loan agreement with White Swan Nominees Pty Ltd, a controlled entity of the Company's corporate adviser Cygnet Capital Pty Ltd, for AUD 500,000 (Loan), intended to cover Mining Group's immediate working capital and exploration expenses at the Comval Copper Gold Project in the Philippines until completion of the Rights Issue. Further, under the terms of the Loan, the Loan is repayable in full, with interest, on receipt of funds from the Rights Issue; interest will be charged at 6% per annum and the Company will pay the lender a fee of 6,000,000 options exercisable at AUD 0.20 each on or before July 1, 2014. 

Company Quote

0.028
0.0010 +3.70%
16 Apr 2014