Sources said three brokers, Canaccord Genuity, Euroz Hartleys and Sternship Advisers, have underwritten the raise.
Gold hopeful Spartan Resources, capitalised at $632 million on the ASX, has kicked off an $80 million cash call. The pricing is expected to land between mid-to-high 50s.
The cash call comes on the back of a new discovery called, Pepper. Fund manager sources said a large shareholder, who inherited the holding from Gascoyne days and has been a potential overhang on the stock, would exit alongside the raising.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.
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