West African Resources Limited’s $43.2 Million Shares Placement

Clayton Utz is acting for Euroz Securities Limited and Sprott Capital Partners, a division of Sprott Private Wealth LP, as joint lead managers, underwriters and bookrunners to West African Resources Limited’s $43.2 million shares placement

The placement, which forms part of the company’s $326 million debt and equity funding package announced to the ASX today and will be undertaken as a single tranche of approximately 173 million shares at $0.25 per share and the shares will be issued to eligible sophisticated, professional and other institutional investors.

Upon completion of the fundraising, West African Resources will be fully funded through to gold production at the company’s Sanbrado Gold Project in Burkina Faso.

West African Resources Limited operates as a gold exploration company. The company, led by Richard Hyde, Padraig O’Donoghue and Lyndon Hopkins is based in Australia.

Clayton Utz advised with a team including Mark Paganin, Stephen Neale, Benjamin Depiazzi and Matt Johns.

Involved fees earner: Mark Paganin – Clayton Utz; Stephen Neale – Clayton Utz;

Law Firms: Clayton Utz;

Clients: Euroz Securities; Sprott Capital Partners;

Author: Michael Patrini