Core Lithium raising $100m
Listed miner Core Lithium had its brokers drumming up interest in a $100 million equity raising on Wednesday morning while its shares were halted.
Core Lithium was among Wednesday morning’s raising candidates.
Sources said pricing talks were at 40¢ a share, which would be a significant discount to the last close.
Macquarie Capital and Canaccord Genuity were understood to be mandated for the raise.
Core Lithium’s grants near Darwin port hit first production in May. However, last month the company disappointed sell-side analysts with guidance that was lower than expected. It has already flagged production in the 2025 financial year would be lower the current one, owing to capacity constraints in processing.
It guided to 80,000 to 90,000 tonnes spodumene production for the 2024 financial year at a presentation at Diggers and Dealers last week. The company had $152.7 million cash and no debt at June 30.
More to come
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