FinTechFunding

Chalice Mining: Raises $15M in oversubscribed SPP

  • Chalice Mining (CHN) has closed its oversubscribed share purchase plan (SPP) and raised $15 million
  • In early December, Chalice revealed it would undertaking a $110 million capital raise consisting of a $100 million placement and $10 million SPP
  • Then the company received $47 million in applications and, given this response, decided to increase the SPP to $15 million
  • Shares expected to issued on January 21 and begin trading on the ASX on January 22
  • Chalice will also use the funds to accelerate exploration and development activities at its Julimar nickel-copper-platinum group element (PGE) project in WA
  • Chalice has ended the day 2.53 per cent in the red with shares trading at $4.24
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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