Argonaut as Lead Manager and Underwriter, has been successful in raising A$21 million for Millennium Minerals Limited (ASX: MOY) (“Millennium”) via a Shareholder Participation Offer of 525,000,000 new ordinary shares at an issue price of A$0.04 per share.
The funds raised were used to retire subordinated debt and will fund a major exploration program which is already underway at the Company’s Nullagine Gold Project in Western Australia.
Millennium Chief Executive Officer, Glenn Dovaston said “the capital raising was a huge success and reflected investors’ belief in the Company’s strong outlook. Millennium offers investors exposure to strong gold production and cashflow, with the prospect of a market re-rating through our aggressive exploration program and a strategy to be debt-free by March 2016.”
Argonaut is delighted to provide support to Millennium and looks forward to the relationship continuing.
Additional information regarding Millennium and the Capital Raising can be found on the company’s website at www.millenniumminerals.com.au.
