Argonaut acted as a Placing Agent to successfully raise approximately US$61.5 million for PT Merdeka Copper Gold Tbk (IDX:MDKA) (“Merdeka” or the “Company”). The Company raised funds from existing and new domestic and international institutional investors by way of a US$61.5m Non Pre-emptive Share Issue (“Share Issue”) at an issue price of IDR3,980 per share. The Share Issue was well supported by new and existing shareholders.
Funds raised pursuant to the Share Issue will be applied towards advancing the Tujuh Bukit Copper Porphyry Project Pre-Feasibility Study, exploration and development expenditure and working capital.
Argonaut is delighted to continue to provide support to Merdeka and looks forward to our ongoing work with the Company.
Additional information regarding Merdeka can be found on the Company’s website at www.merdekacoppergold.com
