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The proceeds will be used to partially repay its loan to Twynam Agricultural Company. Photo: Anova

Anova revises $6.7m raising

Anova Metals has cut the pricing of its planned entitlement offer from 1 cent per share to 0.7 cents to reflect the downturn in equity markets.

The gold explorer is seeking to raise $3.2 million through its entitlement offer, with Argonaut Securities appointed as lead manager.

Anova aims to raise a further $1.7 million through a share placement at 1 cent per share and has lined up a $2 million loan with Hong Kong-based investment group Xingao.

The proceeds will be used to partially repay its loan to Twynam Agricultural Company.

It also owes $1 million in stamp duty to the Office of State Revenue following its purchase of Exterra Resources.

The company’s main asset is the Linden gold project in Western Australia.

Anova Metals (AWV)

Share Price

Closing price for the last 90 trading days
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Top 10 Shareholders

Substantial shareholders as published in the annual report.
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Total Shareholder Return as at 30/04/20

1 year TSR5 year TSR
341stKalium Lakes-1%
500thAnova Metals-26%-26%
594thSalt Lake Potash-41%25%
655thBrockman Mining-50%-17%
694thProdigy Gold-56%-31%
674 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Share Transactions

18/05/20
$11k Bought
08/05/20
$71k Issued
08/05/20
$46k Issued
Total value as at the date of the transaction
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Revenue

76th↑Anova Metals$2.8m
96th↑Prodigy Gold$1.8m
98th↑Brockman Mining$1.8m
100th↑Salt Lake Potash$1.7m
101st↓Kalium Lakes$1.6m
476 listed resources companies ranked by revenue.
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