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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