Wildcat Resources to Raise AU$60 Million via Share Placement; Shares Down 12%
MT Newswires Live
Yesterday
Wildcat Resources (ASX:WC8) received firm commitments to raise AU$60 million through the issue of about 196.7 million new shares at AU$0.305 apiece, according to a Monday filing with the Australian bourse.
In tranche one, 183.6 million shares will be issued, while 13.1 million shares will be issued in tranche two, subject to shareholder approval, the filing said.
Proceeds will be used to advance early works for the Tabba Tabba project in Western Australia, per the filing.
Shares fell 12% in morning trade Monday.
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