ASX-listed Quebec lithium developer Sayona Mining is talking to Canadian investors to stitch up a capital raising, as it heads towards production and right after an investor presentation in the US.
Street Talk understands Sayona, whose shares have been halted since Friday, was chasing $50 million odd at pricing, which was expected to land around the 30¢ a share mark. Its house brokers Canaccord Genuity and Petra Capital were not on the scene.
Fund managers expected the raising to be structured as a flow-through placement of shares at 30¢ odd to Canadian investors, some of whom can claim tax credits under the Canadian law. After the flow-through’s settlement, the company would most likely sell a parcel of shares to institutional investors more broadly.
The raising comes just as Sayona aims to get into production. Its North American Lithium project would produce spodumene concentrate this month and ship by July, it has told investors. ASX-listed Piedmont Lithium owns 14 per cent of the register. Sayona had a $2 billion market capitalisation before the raising.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$36b ASX dividend windfall awaits shareholdersDividends spanning the entire March-April payment period are on track to hit $36.3 billion this year, almost exactly in-line with 2022.
Read more »
ASX LIVE: Coal prices sink; Whitehaven falls, Lynas tumbles on Tesla worriesLynas shares sink on demand worries. Shares add 0.7pc. Bond yields, US dollar retreat. Gold climbs. RBA tipped to lift rates Tuesday. Follow updates here.
Read more »
ASX to rise, S&P 500 poised to extend rallyAustralian shares are set to open higher, bolstered by renewed enthusiasm in New York in hopes the rate peak is closer rather than farther away.
Read more »
Live: ASX set to climb after US markets surge for no apparent reasonThe ASX is poised for solid gains after Wall Street ended last week higher, for little apparent reason other than hopes rates will not rise too far. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Read more »
Foreign ownership of Aussie gold mines would rise above 50pc if Newmont-Newcrest deal goes aheadIf a $24.4 billion takeover bid for the country's biggest producer is successful, foreign ownership of Australia's gold mining industry would rise above 50 per cent, according to an analyst.
Read more »
Foreign ownership of Aussie gold mines would rise above 50pc if Newmont-Newcrest deal goes aheadIf a $24.4 billion takeover bid for the country's biggest producer is successful, foreign ownership of Australia's gold mining industry would rise above 50 per cent, according to an analyst.
Read more »