Firefinch has completed a bookbuild process to raise approximately A$47 million through a Placement of new fully paid ordinary shares launched on 24 June 2021.
The Placement, together with an anticipated debt facility, will provide Firefinch with funds to fast track the growth of annual production at the Morila Gold Mine to 200,000 ounces of gold by 2024, accelerate exploration, resource and reserve development, and facilitate the demerger of the Goulamina Lithium Project into a separate ASX-listed company.
Firefinch MD, Michael Anderson, comments:
“We thank our existing shareholders for their ongoing support and welcome many new high-quality institutions to our register and the Firefinch growth story. This support led to demand in excess of the funds sought by the company, and we are delighted with the response to Firefinch’s story.
“This equity funding, combined with the expected debt funding during the September quarter of 2021, will enable us to deliver on our strategic vision of becoming a West African gold producer of scale, as well as progress our Goulamina demerger plans. We look forward to delivering continued growth for shareholders as Firefinch enters this exciting new phase.”