24/02/2006 - 08:34

Herald down 10% following $126m raising

24/02/2006 - 08:34

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Shares in Herald Resources Ltd have fallen almost 10 per cent after yesterday's $126 million capital raising to fund its Dairi zinc-lead mine in Indonesia.

Shares in Herald Resources Ltd have fallen almost 10 per cent after yesterday's $126 million capital raising to fund its Dairi zinc-lead mine in Indonesia.

Shares in the company have fallen 12 cents this morning to $1.12 at 830 WST.

Herald placed 120 million shares at $1.05 a share with Euroz Securities Ltd clients, which the company believes will broaden Herald's Australian and international institutional shareholder base.

Macquarie Bank is offering a US$30 million convertible finance facility, and is at an advanced stage of negotiations for $20 million of debt funding from smelter/trading groups.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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