AFR: Anglo Australian, Pure Minerals tap investors


Petra Capital, Canaccord and Foster Stockbroking were in the action on Thursday with raisings for ASX-listed Anglo Australian Resources and Pure Minerals, respectively.

Petra nad Canaccord were seeking buyers for 64.7 million Anglo Australian Resources shares at 17¢ each, to raise $11 million.

The deal was at an 8.1 per cent discount to the last close and would be followed by a share purchase plan worth up to another $3 million, according to terms sent to funds.

Proceeds were pegged for drilling at the gold explorer’s Mandilla Gold Project.

The brokers were calling for bids by 4pm Thursday. Anglo Australian Resources had an $87 million market capitalisation prior to the raising.

Meanwhile, Foster Stockbroking was in the market for Pure Minerals with a $4 million placement at 1.5¢ a share.

The deal was at 25 per cent discount to the last close and funds raised were for test work, to advance its TECH project and for corporate costs, the term sheet said.

Source: The Australian Financial Review