EY - Mining Eye Q2 2014

Mining Eye Q2 2014


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Top five equity placements (Q2 2014)

Company Total raised Primary use of proceeds
Wolf Minerals


Toward construction at the Hemerdon Tin-Tungsten project and repayment of outstanding debt
Firestone Diamonds £70m Toward building and commissioning of the Main Treatment Plant and supporting infrastructure at the Liqhobong Diamond Mine in Lesotho
Amara Mining £18m For further exploration of Yaoure including to deliver a PFS and for further optimisation of the Company's Baomahun Gold Project
Aureus Mining £9m Toward additional equity contribution to New Liberty as a condition to the draw down, if required, of the company's cost over-run facility; and for additional pre-production drilling and contingency reserve required under the terms of the Facilities.
ZincOx Resources £2m To purchase equipment to complete the ramp-up of the company's first recycling plant, KRP, and for working capital

Source: London Stock Exchange, company announcements

Selected financings announced, proposed or closed in Q2 2014

Company Total proceeds Type Investor
Primary use of proceeds
London Mining US$17.5m Prepayment facility 'Vitol To increase liquidity headroom. Partial prepayment on 500kt of future unallocated exports.
Rare Earth Minerals US$10m Debt facility YA Global Master SPV To fund further acquisitions. The first draw down carries a twelve-month repayment schedule at a fixed coupon of 10%.
Aureus Mining US$11m Equity International Finance Corp Toward ongoing work at the New Liberty gold project in Liberia.
Ariana Resources US$33m Debt facility Turkiye Finans Katilim Bankasi To fund the construction of the Kiziltepe Gold-Silver Mine at the Red Rabbit gold project in Turkey.
EMED Mining €9m Government grant Government of Andalucía To support the modernisation of the Rio Tinto Copper Project facilities. The grant is constituted with EU funds and administered through the Andalusian Innovation and Development Agency.

Source: company announcements

Equity fundraising on AIM - mining and all AIM (2004-Q2 2014)

EY - Equity fundraising on AIM - mining and all AIM (2004-Q2 2014)

Source: EY, AIM market statistics