Australia’s Predictive Discovery said on Tuesday that China’s Zijin Mining will invest A$24.1 million ($15.00 million), while Lundin family will invest A$45.1 million in the gold explorer, to acquire a 3.5% and a 6.5% stake, respectively.
Predictive said it received firmed commitments from both parties to raise a total of A$69.2 million at an issue price of A$0.265 per share, the same as the company’s last close on Jan. 31.
Proceeds from the placement will be used to accelerate the miner’s key asset Bankan Gold Project in Guinea, it said.
Lundin family is a majority shareholder in Lundin Group, which manages public companies, such as Canada’s Lundin Mining Corp, that are focused on the minerals, metals, renewables and energy sectors.
($1 = 1.6069 Australian dollars)
Reuters
