FireFly doubles SPP to A$10m
Emerging copper and gold company FireFly has doubled the size of its recently announced share purchase plan (SPP) to A$10-million, following “extremely strong demand” for plan.
Applications under the SPP, which closed at 17:00 AWST on July 7, totalled about A$28.2-million, and exceeded the original A$5-million target announced early last month.
The SPP was open to 5 365 eligible shareholders. The company received valid applications from 1 676 eligible shareholders, representing a participation rate of about 31% and an average application amount of about A$16 800.
The SPP was undertaken concurrently with the FireFly’s A$98.1-million equity raising.
The proceeds of the equity raising and SPP will be used primarily to continue growing and upgrading the mineral resource at FireFly’s Green Bay copper/gold project, as well for underground development, preconstruction works, mining studies and working capital.
“We are delighted to have received such strong demand for the SPP, much of which has come from our loyal retail shareholders, and we have taken the opportunity to double the total provision to A$10-million,” said FireFly MD Steve Parsons.
“We are about to add an eighth drill rig to our programme at Green Bay to ensure we can unlock the value of the near-mine opportunities and the regional targets as rapidly as possible.
“With so many rigs turning and mining studies underway, we anticipate continuing to generate strong results and news flow as we push hard to create maximum shareholder value,” stated Parsons.
Comments
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Advancing leadership in technology, innovation, and project management excellence
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
