Proceeds To Accelerate Production Growth At Morila Gold Mine
Firefinch Limited (ASX: FFX) has completed a bookbuild process to raise approximately A$47 million through a Placement of new fully paid ordinary shares.
Managing Director, Michael Anderson,said the Placement, together with an anticipated debt facility, will provide Firefinch with funds to fast track the growth of annual production at the Morila Gold Mine in Maili to 200,000 ounces of gold by 2024, accelerate exploration, resource and reserve development, and facilitate the demerger of the Goulamina Lithium Project into a separate ASX-listed company.
“We thank our existing shareholders for their ongoing support and welcome many new high-quality institutions to our register and the Firefinch growth story,” Mr Anderson said.
“This support led to demand in excess of the funds sought by the company, and we are delighted with the response to Firefinch’s story.
“This equity funding, combined with the expected debt funding during the September quarter of 2021, will enable us to deliver on our strategic vision of becoming a West African gold producer of scale, as well as progress our Goulamina demerger plans. Will look forward to delivering continued growth for shareholders as Firefinch enters this exciting new phase.”
Macquarie Capital (Australia) Limited acted as Global Coordinator, Joint Lead Manager and Bookrunner to the Placement. Euroz Hartleys Limited acted as Joint Lead Manager. Canaccord Genuity (Australia) Limited, Jett Capital Advisors LLC and Petra Capital Pty Ltd acted as Co-managers. Gilbert + Tobin acted as Australian legal counsel to Firefinch.
For further information please visit: https://firefinchltd.com/
