Focus to raise $227m through placement
Focus Minerals’ is aiming to expand output to more 500,000 ounces of gold per year after one of China’s top gold producers, Shandong Mining, agreed to take a 51 per cent stake in the Perth-based miner.
Focus announced that it had signed a $227.5 million share subscription deed today, which will see Shandong subscribe for approximately 4.55 billion shares, priced at 5 cents each.
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Focus Minerals
I think you will find most shareholders are not happy and will reject this offer - I for one will
BETA
Focus Minerals (FML)
Total Shareholder Return as at 30/06/2012
| 1 year TSR | 5 year TSR | ||
|---|---|---|---|
| 258th | Western Areas | -28% | -2% |
| 397th | Focus Minerals | -47% | -20% |
| 456th | Straits Resources | -54% | 0% |
| 655th | Mirabela Nickel | -84% | -45% |
680 WA listed companies ranked by 1 year TSR relative to WA companies with similar revenue
Shareholding
| Donald Taig | 11,963,300 | ||
| Phillip Lockyer | 594,523 |
Number of shares
Share Transactions
Total value as at the date of the transaction
Revenue
| 13th |  | Western Areas | $349.2m |
| 14th |  | Mirabela Nickel | $344.0m |
| 15th | | Focus Minerals | $259.6m |
| 16th | | Straits Resources | $259.0m |
| 17th |  | Norton Gold Fields | $250.9m |
572 WA listed resource companies ranked by revenue
Remuneration from Focus Minerals
| 942nd | Donald Taig | $193k |
| 1456th | Bruce McComish | $82k |
| 1197th | Phillip Lockyer | $55k |
Ranked by total remuneration from all listed WA companies
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