Australia: Clayton Utz advises on Sandfire Resources equity raising
Last Updated: 25 November 2010

Perth, 25 November 2010: Clayton Utz is advising Perth based Sandfire Resources NL on its $102 million equity capital raising.

Perth Corporate Advisory/M&A partners Matthew Johnson and Mark Paganin led the Clayton Utz team.

The raising comprises an underwritten $30 million institutional share placement to institutional and sophisticated investors, to be undertaken via institutional bookbuild with an underwritten floor price of $7.00 per share. It also includes an underwritten accelerated non-renounceable pro rata entitlement offer to raise $72 million at an offer price of $6.60 per share.

The proceeds of the offer and placement will be used to assist funding feasibility studies for the DeGrussa Copper-Gold Project, initial open pit development and allow for deposits for long-lead time items for plant construction and for other pre-development activities. Proceeds of the raising, together with Sandfire's existing cash resources of $35 million, will also be used to underpin continued exploration both in the near-mine environment and regionally.

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

Some comments from our readers…
“The articles are extremely timely and highly applicable”
“I often find critical information not available elsewhere”
“As in-house counsel, Mondaq’s service is of great value”

Press Releases from this Firm
Recent Content from this Firm
By Dean Gerakiteys
By Frank Bannon
By Tosin Aro, Mark Geritz
By Meg McKechnie
By Sergio Capelli
By David Foong, Ken Ooi, Samy Mansour, Brad Vann
By Chris Boge, Daniel Maroske
By Luke Buchanan, Hayden Fielder
By Claire Smith, Lauren Smith
By Michael Richardson, Tim Jones, Anna Trevor
Font Size: