Next development steps funded

The uranium explorer Laramide Resources (TSX: LAM, FSE: L4RA, WKN: A1H8DW) will soon be able to look forward to 12.0 million Australian dollars in new liquid funds. This is because institutional and experienced private investors Down Under have given firm commitments to participate in the announced private placement, which is expected to generate corresponding gross proceeds before costs.

20,000,000 Chess Depositary Interersts (CDI) will be issued at a unit price of 0.60 Australian dollars (AUD). Compared to the last share price of AUD 0.62, this corresponds to a discount of only 3.2 per cent. The capital measure is expected to be completed by the middle of the month, so that the CDIs can probably be booked into the new shareholders’ securities accounts on 16 November.

The newly issued CDIs rank pari passu with the existing Chess Depositary Interests and each CDI is economically equivalent to one ordinary share in the company’s stock. It is telling that Laramide Resources’ capital raise was carried out that quickly and smoothly and that the issue price is very close to the current market price, which means higher total proceeds for the company.

The next development steps are therefore solidly financed

The net proceeds from the financing will be used primarily to accelerate development projects in the US and to expand drilling at the company’s advanced exploration assets in Australia during the next field season. However, a portion of the proceeds will also be used for general working capital.

Laramide’s President and Chief Executive Officer, Marc Henderson, was pleased with the progress of the capital raise. He commented on the closing of the financing: “We are pleased to enter this phase of Laramide’s development supported by the uranium industry, which appears to have entered a new bull market with spot prices above $70.00. The capital raising will enable further permitting of Laramide’s development projects in the US and the acceleration of exploration in Queensland and Australia’s Northern Territory.”

Disclaimer: The contents of and all other used information platforms of the GOLDINVEST Consulting GmbH serve exclusively the information of the readers and do not represent any kind of call to action. Neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice, but rather represent advertising / journalistic texts. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The GOLDINVEST Consulting GmbH and its authors exclude any liability for financial losses or the contentwise warranty for topicality, correctness, adequacy and completeness of the articles offered here expressly. Please also note our terms of use.

According to §34 WpHG we would like to point out that partners, authors and/or employees of GOLDINVEST Consulting GmbH may hold or hold shares of Laramide Resources and therefore a conflict of interest may exist. We also cannot exclude that other stock letters, media or research firms discuss the stocks we discuss during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between Laramide Resources and GOLDINVEST Consulting GmbH, which means that there is a conflict of interest.

Latest News

Latest Videos