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Why has Wildcat Resources raised $100M in a share placement? — ASX:WC8| ASX Mining News & Discussion
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Lykeshares
2y
Official
$WC8
Why has Wildcat Resources raised $100M in a share placement?
Wildcat Resources Limited (ASX: WC8) has successfully secured firm commitments from institutional and sophisticated investors in a share placement, raising $100M. This capital injection will support the company's plans for exploration, development studies, and business growth at its Tabba Tabba Lithium Project.
Who participated in the share placement and what does it mean for Wildcat?
The share placement received strong interest from leading international and domestic institutions, as well as existing supportive shareholders. According to Executive Director Matthew Banks, the significant demand for the placement demonstrates confidence in Wildcat's prospects. The raised funds will provide the company with a robust balance sheet and enable the acceleration of discovery drilling and development studies at the Tabba Tabba Lithium Project.
What will the funds from the share placement be used for?
Wildcat has outlined several key areas where the raised capital will be allocated:
Exploration, drilling, and resource evaluation at the Tabba Tabba
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Lithium Project in Western Australia.
Permitting and project development studies, including mining, baseline, and heritage assessments, at the Tabba Tabba Lithium Project.
Continued exploration activities at the Bolt Cutter Lithium Project in Western Australia, the Mt Adrah Gold Project in New South Wales, and other exploration projects.
General working capital, covering the costs of the share placement, as well as corporate expenses.
When and how will the placement shares be issued?
The Company plans to issue 131,578,948 placement shares, utilizing its 15% placement capacity under ASX Listing Rule 7.1. This issuance is expected to occur on or around November 17, 2023. The shares will be offered at a price of $0.76 per share, representing an 8.6% discount to the 10-day Volume-Weighted Average Price (VWAP) at the Company's last closing share price.
Who were the joint lead managers for the share placement?
The joint lead managers for the share placement were Canaccord Genuity (Australia) and Euroz Hartleys Limited, playing pivotal roles in the capital-raising process.
In conclusion, Wildcat Resources has successfully raised $100M through a share placement, attracting strong interest from institutional investors. The capital raised will support the company's ambitious plans for exploration, development studies, and business growth at the Tabba Tabba Lithium Project. The funds will also be utilized for continued exploration activities and general corporate purposes. The issuance of the placement shares will take place in mid-November, with Canaccord Genuity (Australia) and Euroz Hartleys Limited serving as the joint lead managers.
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L
Lykeshares
141d
Official
Berkshire is hoarding so. much. cash.
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Lykeshares
141d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
172d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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