Australia: Clayton Utz advises Gindalbie Metals Ltd on approximate $62 million capital raising
Last Updated: 3 December 2012

Perth, 30 November 2012: Clayton Utz advised ASX-listed Perth based iron ore producer Gindalbie Metals Ltd in connection with its A$40 million fully underwritten placement to institutional and sophisticated investors. The placement is underwritten by UBS.

The raising is being undertaken to fund the development of the Karara iron ore project.

It is also proposed that Gindalbie's major shareholder Ansteel (35.89%) will participate in a separate placement of approximately A$22 million, subject to shareholder approval and legal and regulatory approvals.

Clayton Utz Perth Corporate partner Mark Paganin led the firm's team with support from senior associate James Clyne and lawyers Tracy Chew and Rebekah Winsor.

Ansteel is one of China's biggest steel makers.

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