Under the Placement,
The placement was strongly supported by institutional and sophisticated investors, providing significant endorsement of Austral's ongoing progress.
Austral's Managing Director and CEO,
"We are delighted with the support for the placement and welcome a number of new institutional investors to the register.
Austral would like to thank our existing shareholders for the continued support and we look forward to delivering on our strategy."
Placement Details
New Shares will be issued under the Placement at an issue price of
- 17.8% discount to the last traded price of
- 16.2% discount to the 5-day volume weighted average price ("VWAP") of
Under the Placement 43,243,244 New Shares will be issued under the Company's existing Listing Rule 7.1A capacity, raising approximately
About
Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.
Contact:
Investor and Media Relations Manager
T: +61-405-555-618
E: jm@janemorganmanagement.com.au
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