ASX and Toronto-listed gold miner Perseus Mining has launched a share offering to raise up to C$93.4 million ($90 million), which it said would fund the development of its projects in West Africa.
Perseus today announced it had entered agreement with a syndicate of underwriters co-led by Clarus Securities, Dundee Securities and CIBC World Markets for the syndicate to buy 25 million shares and sell them to the public at C$3.25 ($3.13) per share.
The offer remains subject to regulatory approval, including that from the Toronto Stock Exchange.
The Perth-headquartered company is currently producing gold from the Edikan gold mine, formerly known as the Central Ashanti gold project in Ghana, and is targeting production from Tengrela, Ivory Coast, by the start of 2013.
At 11:00AM (WST) Perseus’ stock had lost 5 per cent, to trade at $3.26.