15/11/2011 - 10:23

Syndicate tops up Perseus capital raising

15/11/2011 - 10:23

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Syndicate tops up Perseus capital raising

Perseus Mining’s underwriters have exercised an over-allotment option, taking the ASX and Toronto-listed gold miner’s capital raising completed earlier this month to its targeted $C93 million ($89 million).

Perseus initially raised $C81.2 million ($78.2 million) from its share offering launched early in October, after entering into an 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.

Today the gold miner announced the syndicate had subscribed for an additional 3.75 million shares at the same price, to take the total amount raised to $C93.4 ($89.5 million) million.

Perseus said it intended to apply the funds principally to developing the Sissingue gold deposit at its Tengrela gold project in Cote D'Ivoire.

Perseus is targeting production from Tengrela by the start of 2013. It is currently producing gold from the Edikan gold mine in Ghana, formerly known as the Central Ashanti Gold project.

At 10:12AM (WST), Perseus’ stock was down 1.4 per cent, at $3.50.

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