Allens has advised Macquarie Capital and Jarden as joint lead managers and underwriters of 29Metals' $151m accelerated non-renounceable entitlement offer announced on 30 August 2023. The institutional component settled today, 7 September.
29Metals announced that the proceeds received will be used to fund the Capricorn Copper Recovery Plan and near-term Golden Grove capital projects, de-risk the balance sheet and position 29Metals to deliver future production.
'Issuers in the critical minerals sector continue to be active in capital market transactions, and we are proud to have acted for Macquarie and Jarden on another capital raising in this strategically important sector,' said Partner Adrian Amer.
'It was a pleasure working with the teams at Macquarie and Jarden and we very much look forward to working with them again soon,' said Julian Donnan, Partner and Co-Head of Equity Capital Markets.
The 29Metals capital raising is one of many recent critical minerals sector capital raisings on which Allens has advised issuers, underwriters and strategic investors, including: Barrenjoey and Canaccord on the $120 million two-tranche placement and $10 million SPP by Azure Minerals; Patriot Battery Metals on the private placement by Albemarle of C$109 million; Barrenjoey on the $20 million placement and $5 million share purchase plan for Strandline Resources; and Canaccord and Bank of America on Vulcan Energy Resources' $109 million placement, among others.
Allens legal team
Corporate
Adrian Amer (Partner), Julian Donnan (Partner, Co-Head of ECM), Michael Burrell (Senior Associate) and Nic Ruhbach (Lawyer)