Business
A$19.5m Raised in Strongly Supported Placement
ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGE HIGHLIGHTS ...
About this update from Rtg Mining, Inc.
[{"type":"text","content":"A$19.5m Raised in Strongly Supported PlacementANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGEHIGHLIGHTSRTG Mining Inc. has received firm commitments to raise approximately A$19.5 million via a two-tranche institutional placementThe placement received strong support from a number of leading institutional investors including both existing shareholders and a number of new investorsPlacement strengthens RTG's balance sheet enabling the Company to advance the Mabilo Project towards start-up together with other business development opportunitiesPlacement follows recently secured partnership with one of the largest natural resource companies in the world, Glencore International AG, to finance Stage 1 start-up of the high-grade Copper and Gold Mabilo ProjectSecured Financing Facility from Glencore provides for a total of up to US$30m in three-tranches covering 100% of the estimated capex for Stage 1 SUBIACO, AU / ACCESS Newswire / March 31, 2025 / The Board of RTG Mining Inc. (\"RTG\", the \"Company\") (TSX Code:RTG)(ASX Code:RTG) is pleased to announce that the Company has received commitments to raise approximately A$19.5 million (circa US$12.3 million) in a placement to institutional and sophisticated investors (\"Placement\").As recently reported (see ASX announcement dated 6 March 2025), the Secured Financing Facility with Glencore International AG (\"Glencore\"), provides for a total of up to US$30 million (in three-tranches), on attractive terms, for the development of Stage 1 of the high-grade copper and gold Mabilo Project in the Philippines. Subsequent to securing binding finance and offtake arrangements with Glencore, the Placement has received strong institutional demand, demonstrating the considerable support for RTG's high-grade copper and gold strategy.The Placement will result in the issue of approximately 783 million Chess Depository Instruments (\"New Securities\") to be listed on the ASX at an issue price of A$0.025 per Security (\"Issue Price\"), representing a 3.8% discount to RTG's last closing price on the ASX of A$0.026.Net proceeds of the Placement will be used to provide working capital to advance the Mabilo Project towards start-up and operations to unlock the early and strong cashflows of the project, with the first phase being a Direct Shipping Operation. RTG will also be well f...