Stock available in gold miner Aureus Mining's recently announced rights issue will be priced at 80 Canadian cents a unit, while securities available through the private placement will be placed at 50p per unit.
Each unit is comprised of one common share of the company and one-quarter of one common share purchase warrant of the company; each Warrant will entitle the holder thereof to purchase one Aureus common Share at a price of 62.5p (or the equivalent in Canadian dollars) for a period of 18 months from the date on which the offering closes.
Two company directors, David Reading and Luis da Silva, will be buying shares through the placement, with Chief Executive Officer Reading subscribing for 75,000 units and non-executive director da Silva 10,000.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In total, the company is raising C$80m to support the development of the New Liberty gold project in Liberia.
JH
-
Trouble brews in B&M as bargain shops take a hitOpinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in LondonThe US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?
