Tim Goyder-chaired uranium play DevEx rattles the tin

afr.com:

It’s down to the short strokes for Albemarle’s due diligence at Liontown Resources but for Tim Goyder, it is business as usual at his other portfolio companies.

Tim Goyder is surrounded in deals, ranging from a $6.6 billion bid for Liontown Resources to a (much-smaller) $21 million raising for DevEx.  

ASX-listed uranium developer DevEx Resources, which is 17.5 per cent owned (and chaired) by Goyder, was out seeking $21.1 million from equity capital markets on Wednesday. The cash call was split into a $10 million placement and an $11.1 million non-renounceable entitlement offer.

DevEx’s broker Bell Potter was offering shares at 30¢ apiece or an 11.8 per cent discount to the last close. The rights issue was on a one-for-10 basis, and expected to be underwritten. Bids were due 4pm Thursday.

DevEx’s flagship project, Nabarlek, in North Territory is located close to ERA’s uranium mines Jabiluka and Ranger. It also has early-stage holdings in rare earths in Queensland, and in nickel sulphide in Western Australia near Chalice Mining’s Julimar project.

The company had a $126 million market capitalisation before the raise. Paradice Investment Management is the second-largest shareholder after Goyder, with 6.2 per cent of the company.