Chatham Rock Phosphate has appointed London corporate finance advisers Wimmer Financial to manage an international capital raising over coming weeks.
The financing, by private placement, is likely to be determined by a book build process managed in conjunction with Wimmer Financial. The offering, for qualified investors, is likely to be the final capital raising required before CRP is fully permitted.
“As our project is well advanced in all other respects we see the granting of the second permit we require – the environmental or “Marine” consent – as a game changer for us,” according to Managing Director Chris Castle.
He says an opportunity to invest on the same terms (including options) is unlikely to occur again.
“The recently granted mining permit, the first to be granted under new legislation, faced very rigorous scrutiny indeed. The success of this application bears tribute to the undeniable merits of the project.”
Press Release, December 30, 2013