|
|
Article: AUSTRALIA'S MOUNT GIBSON IRON TO LAUNCH US$6.4 MLN IPO.
- Article from:
- AsiaPulse News
- Article date:
- December 18, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
PERTH, Dec 18 Asia Pulse - Mount Gibson Iron Ltd (ASX:MGX) hopes to raise $A11.36 million ($US6.41 million) via a non-renounceable rights issue after failing to complete an $A11 million ($US6.21 million) placement to Monaco-based Granier Family Trust.
Chairman Bill Willis said the company wanted to strengthen its balance sheet before awarding contracts for mine development and operations associated with its Tallering Peak iron ore mine in Western Australia early next year.
Perth stockbroker Paterson Ord Minnett Ltd will act as lead manager and underwriter to the offer on a one for one basis at nine cents per share which will result in the issue of 126.28 ...