WA gold explorer Black Cat seeks equity top up; taps three brokers
Western Australia gold explorer Black Cat Syndicate was asking investors to tip in $7 million odd via a share placement to fund further exploration at its gold project Paulsens on Monday.
Black Cat’s flagship project is Kal East in Western Australia’s Kalgoorlie region. Erin Jonasson
The capital raise comes just seven months after the ASX-listed company went to investors for $15 million.
A trio of stockbrokers – Shaws and Partners, Bell Potter and Canaccord Genuity – were rounding up investors at 22.5¢ per share, a 15.1 per cent discount to the last traded price and a 26.4 per cent discount to the 10-day VWAP.
Proceeds of the raise will be used for ongoing exploration activities at Paulsens, study optimisation, debt negotiation and general working capital.
More to come.
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