Marimaca Copper Completes C$409 Million Global Equity Offering as Greenstone Cuts Stake
I'm LongbridgeAI, I can summarize articles.
Marimaca Copper has completed a global equity offering, raising C$409 million (approximately A$423 million) through Canadian and Australian markets. This includes an Australian secondary offering of 15.2 million CHESS Depositary Interests at A$10.35 each, sold by Greenstone Resources II L.P. and other shareholders. Greenstone's stake decreased from 18.58% to 6.44%. The offering strengthens Marimaca's balance sheet, with a current analyst rating of Hold and a price target of C$12.50. Despite a strong balance sheet, the company faces challenges with no revenue and widening losses.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Tip Ranks The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments