AFR: Three brokers on board Big River Gold placement


ASX-listed gold play Big River Gold is hunting a capital injection for pre-production activities at its Brazilian resources project.

ASX-listed Big River Gold launched a capital raising on Thursday.  

The company launched a $20 million two tranche placement on Thursday, with help from Dundee Goodman Merchant Partners, Jett Capital Advisors and Petra Capital.

The new shares were being offered to funds at 5¢ each, which represented a 15.3 per cent discount to Big River Gold’s last close, and a 10.5 per cent discount to the five-day VWAP, according to terms sent to funds.

The term sheet said North American resources fund Dundee Corporation was tipping a minimum of $6.5 million into the offer.

Money raised would go towards pre-production activities at the company’s Borborema gold project, including earthworks and infrastructure costs, resource definition drilling and the like.

Bids into the offer were due by 2pm on Friday, potential investors were told.

Source: The Australian Financial Review