ArgonautArgonautArgonautArgonaut
  • About Us
    • Business Model
    • Regulation
    • Community
    • Jason and the Argonauts
    • Disclaimer and Disclosure
  • Corporate Finance
  • Stockbroking & Research
    • Stockbroking
    • Research
    • Best Execution Policy
    • Administration Forms
    • Open an Account
  • Special Situations
  • News
    • Latest News
    • Morning Notes
    • Latest Research
  • Contact
    • Careers
      • Advisers
      • Graduate Program
      • Internship Program

Argonaut Congratulates Metro Mining on Transformational Capital Raising

By admin | Uncategorized | 0 comment | 5 October, 2017 | 0

Argonaut acting as Lead Manager has successfully raised A$38 million for Metro Mining Limited (ASX: MMI) (“Metro”) via a two tranche placement to Australian and international institutional investors at an issue price of A$0.135 per share. The placement was heavily oversubscribed with significant demand generated from existing and new institutional investors.

Proceeds from the capital raising in conjunction with $40m of debt facilities, recently arranged by Argonaut, will be applied to fully fund the construction and development of the Bauxite Hills Mine into production.

Commenting on the capital raising, Metro’s Managing Director, Simon Finnis said:

“We are delighted by the success of the Institutional Placement which generated exceptional demand from leading institutional investors. The bookbuild closed quickly and well above target.”

He went on to conclude:

“This Institutional Placement completes Metro’s funding journey. We are fully funded and are now immediately commencing full construction of the Bauxite Hills Mine. Metro will become a leading Cape York bauxite producer early next year.”

Argonaut is delighted to have again supported Metro and played a key role in all of Metro’s financings over the past 2 years. Argonaut looks forward to Metro soon becoming a leading independent bauxite producer and continuing to provide ongoing assistance to the company.

Additional information regarding Metro and the capital raising can be found on the company’s website at www.metromining.com.au.

No tags.

Related Posts

  • New Research – NexGen Energy (NXG) – Elite Status Update

    By Wendy McEvoy | 0 comment

    We provide a general update for NexGen Energy’s (ASX:NXG, TSX:NXE, NYSE:NXE) Rook I uranium project. Upgrade of the camp, road infrastructure and shaft freeze hole drilling has been approved by the provincial government for thisRead more

  • 15/03/2023 – Morning Note

    By Jonas Dorling | 0 comment

    Key News Overnight: U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the FederalRead more

  • Global Lithium (GL1) – Enjoying Global Resource Growth

    By Wendy McEvoy | 0 comment

    GL1 has reported an update to both the Manna and Marble Bar Project Resources totalling 50.7Mt at 1.0% Li2O for 507kt of contained Li2O. This represents a 130% increase of contained Li2O units within headlineRead more

  • Musgrave Minerals Ltd – New Research – Good Met

    By Wendy McEvoy | 0 comment

    Updated met results exceed our expectations and granting of mining leases is another tick towards development. On our modelling we bump up our assumed average project metallurgical recovery from 92% to 93%, retaining plenty ofRead more

  • Argonaut Coverage Update

    By Wendy McEvoy | 0 comment

    Following a review, we have dropped coverage of the companies listed below.  The review considered sector exposures, as well as the number of likely additions to our coverage list in the coming months.  The tableRead more

  • About Us
    • Business Model
    • Regulation
    • Community
    • Jason and the Argonauts
    • Disclaimer and Disclosure
  • Corporate Finance
  • Stockbroking & Research
    • Stockbroking
    • Research
    • Best Execution Policy
    • Administration Forms
    • Open an Account
  • Special Situations
  • News
    • Latest News
    • Morning Notes
    • Latest Research
  • Contact
    • Careers
      • Advisers
      • Graduate Program
      • Internship Program
Argonaut

Argonaut | The Natural Choice in Resources.
© 2022 Argonaut.

Corporate Finance
Stockbroking & Research
Contact Us

Argonaut | Perth

Level 30, Allendale Square, 77 St Georges Terrace Perth, WA, 6000 Australia

clientservices@argonaut.com

ABN 72 108 330 650

Argonaut | Login

Client Area Help
Register for Access to Client Area
Privacy Policy
Financial Services Guide 
Website Disclaimer

Copyright 2022 | Website ⚡ by Start Digital