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Summit seeks $10m

SUBIACO-based Summit Resources Ltd plans to raise over $10 million through a rights issue which will be fully sub-underwritten by its two largest shareholders, Paladin Energy Ltd and Areva NC Australia Pty Ltd. Summit said capital raised will be through a renounceable pro rata rights issue which will see about 4.1 million shares issued at a price of $2.49 each to raise $10.3 million. New shares offered will be on the basis of one new share for every 50 fully paid ordinary shares. If the maximum number of shares is taken up, Summit will have 210.5 million shares on issue.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
344thTalisman Mining21%24%
524thVital Metals-9%-2%
562ndTerrain Minerals-13%3%
621stSummit Resources-23%-34%
741stBlack Star Petroleum-50%-60%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

289th↑Summit Resources$31k
342nd↑Terrain Minerals$5k
343rd↓Black Star Petroleum$4k
345th↑Talisman Mining$3k
346th↓Vital Metals$3k
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Summit Resources

874thMalcolm Randall$56k
1183rdDavid Berrie$51k
Ranked by total remuneration from all listed WA companies

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