VHM Secures AU$5 Million Through Fully Underwritten Institutional Placement
MT Newswires Live
Apr 21
VHM (ASX:VHM) has secured commitments to raise AU$5 million through a fully underwritten institutional placement, issuing around 19.2 million new shares at AU$0.26 each, with capacity to expand to around 24.6 million shares, according to a Tuesday Australian bourse filing.
The placement is priced at about a 19% discount to the five-day volume-weighted average price, with the new shares ranking equally with the existing ordinary shares, the filing said.
The proceeds will be used to support early engineering work at Goschen, secure long-lead items, and cover operating costs as the company finalizes offtake and financing agreements ahead of a planned final investment decision in mid-year, the filing added.
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