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Friday, 4 October 2013
Aureus Mining to raise US$15 mln to advance exploration at gold targets
Aureus Mining (TSE:AUE, LON:AUE) is to raise around US$15 million for focused exploration at its Weaju and Ndablama gold targets in Liberia, it said.
The price of the placing will be determined by an accelerated book-building process, it told investors.
The net proceeds will be used to advance focused exploration activities within the company's Bea mountain mining licence, involving follow up drilling campaigns at Weaju and Ndablama gold targets, and for general corporate purposes, it said.
The offering will be underwritten by a syndicate of underwriters led by GMP Securities L.P, acting as bookrunner and including Clarus Securities, RBC Capital Markets, and Numis Securities.
Last week, the company revealed it was on course to become Liberia’s first gold producer after having its restated and amended mineral development agreement (MDA) ratified by the government of the west African country.