Aureus raises money for New Liberty project

Aureus Mining lost almost a tenth of its value on Friday after announcing plans to tap the market with a share placing.

The company intends to raise $80m to support the development of the New Liberty gold project in Liberia.

The price at which the shares will be placed has yet to be determined and is sure to be a hot topic of discussion between the book-runners and interested institutional investors.

In addition to raising funds via a share issue, Aureus remains in discussions with a number of banks and financial institutions which have expressed interest in providing project debt financing in order to fund the balance of the project construction and development costs in respect of New Liberty.

JH