Mining Eye

Mining Eye Q1 2013


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Top five equity placements (Q1 2013)

Company Total raised Primary use of proceeds
Minera IRL


Development costs at Ollachea gold project in Peru
African Consolidated Resources £7.0m Advancement of key projects, including Pickstone-Peerless gold project in Zimbabwe
Condor Gold £7.0m Drilling progammes on La India gold project in Nicaragua
Patagonia Gold £6.2m Exploration and drilling at Cap-Oeste and COSE projects in Argentina
Bezant Resources £5.2m Subscription by Gold Fields

Selected financings announced or closed in Q1 2013

Company Total proceeds Type Investor
Primary use of proceeds
African Minerals US$350m Debt facilities Standard Bank of South Africa Working capital for Tonkolili iron ore ramp up in Sierra Leone; refinancing
Anglo Asian Mining US$25.5m Loan International Bank of Azerbaijan Toward construction of an agitation leach plant for the Gedabek gold/copper/silver project in Azerbaijan
Shanta Gold US$30m Debt facility FBN Bank Debt repayments; ramp up of the New Luika gold project in Tanzania
Herencia Resources <US$15m Equity drawdown and convertible notes Lind Partners Development of the Paguanta project in Chile
Hummingbird Resources US$15m Royalty Anglo Pacific Group Exploration and development at the Dugbe 1 gold project in Liberia

Equity fundraising on AIM - mining and all AIM (2004 - Q1 2013)

Source: EY, AIM market statistics