- Bellevue Gold (BGL) confirms it has received commitments for a $106 million fully underwritten placement to institutional investors at 85 cents per share
- This follows a recent announcement that the company is on track to have its namesake Bellevue Gold Project fully funded, thanks to a $200 million debt facility secured with Macquarie Bank (MGQ)
- Additionally, Bellevue plans to undertake a share purchase plan of up to $25 million, open to investors from September 13
- The raising follows a stage two feasibility study, which forecast the Bellevue Gold Project would rank among the world’s leading gold projects, based on its grade, production and location
- Bellevue shares resumed trading today, down 7.41 per cent and trading at 87.5 cents at 11:55 am AEST
Bellevue Gold (BGL) has confirmed it has received firm commitments for a $106 million fully underwritten share placement to institutional investors.
The company recently announced it was on track to have its namesake Bellevue Gold Project fully funded, thanks to a $200 million debt facility secured with Macquarie Bank (MGQ).
With the loan combined with the share placement, the company says it’s on track to become a significant top 20 Australian high-grade gold producer.
The placement was supported by both domestic and offshore institutions, which bought shares at 85 cents each.
The raising followed a stage two feasibility study, which forecast the Bellevue Gold Project would rank among the world’s leading gold projects, based on its grade, production and location.
Additionally, Bellevue plans to undertake a share purchase plan of up to $25 million. The company reserves the right to scale back applications or accept oversubscriptions if demand exceeds the $25 million, with shares again offered at 85 cents.
The share purchase plan will open to eligible shareholders from September 13.
“With the project fully funded to production, we will proceed full-steam ahead with development while maintaining a strong emphasis on further growth by increasing and upgrading the Mineral Resources and Ore Reserves,”Bellevue Managing Director Steve Parsons said.
Bellevue shares have resumed trading today, down 7.41 per cent and trading at 87.5 cents at 11:55 am AEST.