Argonaut acted as Lead Manager and Bookrunner to successfully raise $22 million for Atrum Coal Limited (ASX: ATU) (“Atrum” or the “Company”) at an issue price of $0.23 per share by way of a two tranche placement (“Placement”). The Placement was underpinned by strong support from domestic and international institutional and sophisticated investors, which resulted in the capital raising being oversubscribed.
Funds from the Placement will be applied towards rapid completion of the Elan Coal Project Pre-Feasibility Study, infill and exploration drilling, coal quality testing, other development works and working capital.
Argonaut is delighted to continue to provide support to Atrum and looks forward to Atrum’s ongoing success.
Additional information regarding Atrum can be found on the Company’s website at https://www.atrumcoal.com