Listed African gold play Firefinch has pulled the brakes on its $90 million recapitalisation, telling investors was rethinking mine funding after gold spot prices and the Australian dollar slid lower last week.
, telling investors it was rethinking mine funding after gold spot prices and the Australian dollar slid lower last week.Investors were told the company and the JLMs had reconsidered funding over the weekend and would be looking at alternate funding options., economic sanctions against Mali, and board and executive resignations.The $90 million placement, run by Cannacord Genuity and Euroz Hartleys, was priced at 6¢ a share - a hefty 70 per cent discount to the last close.
The total raising would have increased its shares on issue by 127 per cent, and paved the way for it to start trading again. The company had a $236 million market capitalisation when it last traded. It had $36 million cash and equivalents at August 31 and about $160 million worth of
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