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29 JULY 2021 AL CIRCLE

Canyon Resources appoints Foster Stockbroking to manage $4 million raise for feasibility study

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

According to report on Thursday, July 29, bauxite miner Canyon Resources has appointed Foster Stockbroking to manage a $4 million raise for the company. The amount is for funding a feasibility study.

Canyon Resources appoints Foster Stockbroking to manage $4 million raise for feasibility study

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As per the report, 8¢ per share or a 14 per cent discount to the last trading price has been offered for the public raise. Bids are due on Thursday, 5 PM.

Besides, Canyon Resources has already secured a commitment from existing major shareholder and non-executive director Peter Su, which, however, is subject to shareholder approval.

The business has also reserved the right to take oversubscriptions.

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Canyon Resources’ flagship project is located in Cameroon, West Africa. Its major shareholder is AusGlobal Bauxite, which holds 9 per cent of the company.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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