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user "(richrichie)"
Posted: 11/06/12 21:23
"Pallinghurst is looking to buy a 5th copper platform, and TGS could be a good opportunity. Pallinghurst controlled JMS also on trading halt.
Pallinghurst to raise R800m, eyes copper investment
By: Natasha Odendaal
11th June 2012
JOHANNESBURG (miningweekly.com) – JSE-listed Pallinghurst on Monday launched a R800-million rights offer to support and expand its four current investment platforms and enter into a fifth investment.
Between R324-million and R404-million of the rights offer's proceeds would be invested into a new investment platform. Pallinghurst pointed to several identified investment opportunities the group intended pursuing, one of which was a copper investment in Southern Africa, comprising producing assets, as well as assets close to production.
Between R202-million and R243-million would be used for Pallinghurst’s participation in a capital raising by luxury brand Faberge.
Following its relaunch in 2009, Faberge expanded its retail presence to include Geneva, London, New York and Hong Kong. To fund another expansion phase and enable further implementation of its value-creating strategy, Faberge is undertaking a capital raising, which may take the form of equity or debt.
The diversified resources investment company has allocated a further R202-million to R283-million to the expansion of its steel-making materials platform, Jupiter, which has also been in a capital-intensive phase while building South Africa’s newest openpit manganese mine at Tshipi Borwa, in the Northern Cape; continued feasibility studies on the Mount Mason and Mount Ida iron-ore projects, in Australia.
The company’s two other investment platforms, coloured gemstones and platinum-group metals, were the most advanced investments and, as the next phase of development for these investment platforms would likely be made from their existing cash reserves, it was not expected that they would require further funding from the company.
An amount of R420.33-million, or 52.54% of the total rights offer, had already been raised through the preplacement of 187.6-million shares with existing shareholders in advance of the rights offer.
The group aimed to raise the required amount through the issue of up to 357-million rights offer shares at R2.24 a share - a 25% discount to the ten-day volume-weighted average price of a share listed on the JSE on March 29.
www.miningweekly.com/article/...-copper-investment-2012-06-11"
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user (big mahn)
"Sounds like it could be tgs!
No doubt several vultures would be circling us at these ridiculously low prices. "
hotcopper.com.au/...p?fid=1&tid=1760778&msgid=10216567
user "(richrichie)"
Posted: 11/06/12 21:23
"Pallinghurst is looking to buy a 5th copper platform, and TGS could be a good opportunity. Pallinghurst controlled JMS also on trading halt.
Pallinghurst to raise R800m, eyes copper investment
By: Natasha Odendaal
11th June 2012
JOHANNESBURG (miningweekly.com) – JSE-listed Pallinghurst on Monday launched a R800-million rights offer to support and expand its four current investment platforms and enter into a fifth investment.
Between R324-million and R404-million of the rights offer's proceeds would be invested into a new investment platform. Pallinghurst pointed to several identified investment opportunities the group intended pursuing, one of which was a copper investment in Southern Africa, comprising producing assets, as well as assets close to production.
Between R202-million and R243-million would be used for Pallinghurst’s participation in a capital raising by luxury brand Faberge.
Following its relaunch in 2009, Faberge expanded its retail presence to include Geneva, London, New York and Hong Kong. To fund another expansion phase and enable further implementation of its value-creating strategy, Faberge is undertaking a capital raising, which may take the form of equity or debt.
The diversified resources investment company has allocated a further R202-million to R283-million to the expansion of its steel-making materials platform, Jupiter, which has also been in a capital-intensive phase while building South Africa’s newest openpit manganese mine at Tshipi Borwa, in the Northern Cape; continued feasibility studies on the Mount Mason and Mount Ida iron-ore projects, in Australia.
The company’s two other investment platforms, coloured gemstones and platinum-group metals, were the most advanced investments and, as the next phase of development for these investment platforms would likely be made from their existing cash reserves, it was not expected that they would require further funding from the company.
An amount of R420.33-million, or 52.54% of the total rights offer, had already been raised through the preplacement of 187.6-million shares with existing shareholders in advance of the rights offer.
The group aimed to raise the required amount through the issue of up to 357-million rights offer shares at R2.24 a share - a 25% discount to the ten-day volume-weighted average price of a share listed on the JSE on March 29.
www.miningweekly.com/article/...-copper-investment-2012-06-11"
--------------------------------------------------
und
user (big mahn)
"Sounds like it could be tgs!
No doubt several vultures would be circling us at these ridiculously low prices. "
hotcopper.com.au/...p?fid=1&tid=1760778&msgid=10216567
